Date: 2013-01-09
Type of information: Fundraising
Company: Spinomix (Switzerland)
Investors: Debiopharm Group™ (Switzerland) existing investors undisclosed private US investor group
Amount: $ 3 million (€2.3 million)
Funding type: series A financing round
Planned used: Spinomix focuses on delivering high-quality-low-cost solutions for sample preparation of biological materials. The extraction and concentration of targeted cells and molecules (e.g. bacteria and DNA) under routine conditions, of adequate quality and at optimal cost are critical for their detection on existing and future in vitro diagnostic platforms. Spinomix’s approaches use two proprietary technologies: MagPhase™, an automated sample preparation platform based on magnetic nanoparticles and microfluidics with cost efficient, rapidly processed and disposable cartridges. FibroTrap™, a fibrinogen based technology, to separate targeted cells and molecules within routine sample collection tubes. The funds allow Spinomix to consolidate its development pipeline and to strengthen existing and new in vitro diagnostic industry collaborations.
Others: Spinomix, a Swiss company advancing molecular diagnostic technologies, has closed a Series A equity investment of $ 3 Million. The financing round was led by Debiopharm Group™. Significant participation and support is being provided by existing investors and a private US investor group with proven entrepreneurial experience.* On January 8, 2014, Spinomix and Debiopharm have announced the successful achievement of a second development milestone on Spinomix’ two proprietary technologies, namely MagPhase™ and FibroTrap™. In conjunction with the terms of the investment agreement, Spinomix is to receive an undisclosed second tranche payment from Debiopharm. In January 2013, Spinomix closed its series A $ 3 million equity investment in a round led by Debiopharm. Since then, Spinomix has built a series of MagPhase™ pilot instruments for field-testing for purification of nucleic acids. These instruments are automated sample preparation platforms based on magnetic nanoparticles and microfluidic disposable cartridges offering cost-efficient and high quality DNA extraction. Four instruments were installed with academic and industry partners to initiate the field testing program. Spinomix also successfully demonstrated the FibroTrap™ tube prototype assay in key applications laid out in the development plan. FibroTrap™ is a fibrinogen-based technology, enabling highly specific and sensitive isolation of targeted cells and molecules in clinical samples directly in routine collection tubes, thus simplifying enormously the workflow.
The company has also recruited a new CEO, Nasri Nahas. Over the course of his 12 years tenure as the CEO of Geneva Bioinformatics (GeneBio) SA, he has led GeneBio’s operations and successfully built an exceptional and highly motivated team of industry experts who grew the company from a start-up-like setting to an experienced, well-established and renowned organization.
Therapeutic area: Diagnostic
