NEW YORK (GenomeWeb News) – Swiss molecular diagnostics firm Diagnoplex today said that it has closed a Series A financing round, raising CHF 10 million ($8.3 million) in funding.
Diagnoplex said that it would use proceeds from the financing to further develop its Colox non-invasive test for early detection of colon cancer.
The firm’s tests are based on its single-channel quantitative multiplex reverse transcriptase-polymerase chain reaction (scqmRT-PCR) platform that can quantify up to 60 genes simultaneously. According to the firm, the technology pairs the high accuracy and reliability of PCR with the possibility to read out multi-gene signatures of different cancers. It noted that unlike microarray platforms, its platform is easily scalable and can be run in most standardized testing labs.
The round of financing was led by Novartis Venture Fund and NeoMed, with additional investment from Initiative Capital Romandie. Novartis Venture Fund previously was a seed investor in Diagnoplex.
In connection with the funding, Anja König, managing director of Novartis Venture Fund, and NeoMed Principal Thomas Goebel will join Diagnoplex’s board of directors.