Biogazelle Attracts New Investors
News Oct 07, 2014
Qbic Arkiv Fund, Foundation Majoie and SOFI invest 2.0 million EUR in UGent spin-off Biogazelle, a company that offers software and laboratory services for gene expression analysis. Biogazelle will primarily use the investment to further develop its research on therapeutic RNA targets for specific cancer types, and to expand its commercial activities.
Biogazelle was founded in 2007 as a Ghent University spin-off company, and focuses on gene expression analysis. To this purpose, several state-of-the-art laboratory methods such as RNA sequencing and digital PCR are being used, complemented with custom developed unique software tools, including qbase+.
Jan Hellemans, CEO and co-founder explains:
“After a successful start period with an annual growth rate of 70% during which Biogazelle’s qbase+ software was launched and a laboratory service was initiated, it was important to acquire additional funding to support the growth and internationalization of our commercial activities on the one hand, and to start our own research programs on the other hand.”
Jo Vandesompele, CSO and also co-founder, adds:
“RNA based therapeutics, in particular long non-coding RNAs, constitute a very promising area for the development of a new type of anti-cancer medicines. Because of our expertise and know-how, and because the traditional pharmaceutical industry is not yet very active in this domain, it offers exquisite opportunities for Biogazelle. We will prioritize top candidate RNA targets, followed by high-throughput testing in our lab using anti-sense silencing technology.”
“In our search for capital, we have deliberately selected partners that can support our growth strategy not only from a financial perspective, but also by means of their knowledge and experience. The story we are writing benefits from a broad sounding board.”