Date: 2012-09-20
Type of information: Fundraising
Company: AyoxxA Biosystems (Germany)
Investors: Wellington Partners Venture Capital - NRW.BANK (Germany) - HTGF - High-Tech-Gründerfonds (Germany) - private investors, - Rainer Christine and Dr. Gregor Siebenkotten, both formerly executive board members and co-founders of amaxa biosystems.
Amount: € 2.6 million
Funding type: Series A financing round
Planned used: The funds raised will be used to drive the further development of AyoxxA’s proprietary platform technology and the scale-up of production of its novel bead-based biochips and, through the expansion of its base in Cologne, to bring this technology to market.
Others: AyoxxA Biosystems has closed a € 2.6 million Series A financing round. The round was led by Wellington Partners Venture Capital and included NRW.BANK, HTGF - High-Tech-Gründerfonds, and private investors, Rainer Christine and Dr. Gregor Siebenkotten, both formerly executive board members and co-founders of amaxa biosystems.
AyoxxA’s technology is aimed at transforming the throughput and accuracy of protein analysis to deliver the analytical power now seen only for DNA arrays. The platform is based around proprietary In-situ Encoded Bead-based Arrays (IEBA) which allow the simultaneous measurement of multiple proteins from minute samples. Unlike current bead-based microarrays, AyoxxA’s IEBA need no physical label to allow multiplex analysis and thus hugely reduce the complexity of downstream analysis while increasing the number of individual proteins that can be analysed at the same time. The arrays are designed to be readily adaptable to standard high throughput screening systems and offer the potential of tens of thousands of ELISA assays in a single well of a biochip.
Following the fundraising, AyoxxA’s Board of Directors will comprise: Chairman Rainer Christine; Board Members Regina Hodits, Matthias Dill and Aristotelis Nastos (NRW.BANK); and Board Observers Lukas Günther (Wellington Partners) and Florian Stinauer (NRW.BANK).
AyoxxA, is based in Cologne, Germany, and Singapore, has developed a proprietary technology platform for multiplexed protein analysis. These novel biochips allow users to combine high throughput screening and multiplexed assay formats at the same time and thus have the potential to revolutionize applications in biomedical research, pharmacological screening, and diagnostics. AyoxxA was founded as a spin-off of the National University of Singapore (NUS) in 2010. The company received multiple grants in Singapore from the National Research Foundation (NRF), the SMART Innovation Centre (Singapore MIT Alliance for Research and Technology), and SPRING\'s Technology Enterprise Commercialisation Scheme (TECS). It established corporate headquarters in Cologne in Spring 2012 and continues to run operations in Singapore.
Therapeutic area: Technology - Services
