NEW YORK (GenomeWeb News) – Swiss biochemical extraction company Spinomix has closed a Series A equity investment of $3 million, with the funds coming from existing and new investors, the company said today.
The round of financing was led by Debiopharm Group, a collection of biopharmaceutical companies focused on drug development and investing in startups, primarily in the molecular diagnostics and personalized medicine fields. The funding also included support from previous investors and a private, undisclosed US-based investor group.
Spinomix, which is developing automated miniaturized systems for biochemical detection and extraction, was established in 2004 and is located in the Swiss Federal Institute of Technology, in Lausanne.
The firm's two core technologies include the MagPhase automated sample prep platform that uses magnetic nanoparticles and microfluidics, and the FibroTrap technology that separates targeted cells and molecules within routine sample collection tubes.
"This successful financing round is an important step in the company structure and technologies development plan. The funds allow Spinomix to consolidate its development pipeline and to strengthen existing and new IVD industry collaborations," Lothar Wieczorek, chairman of the company's board of directors, said in a statement.
"Through our technologies we will expand on the industry sample processing methods and ultimately we aim to establish new diagnostic standards," Wieczorek said.