NEW YORK — Swiss diagnostics developer 4D Lifetec said on Wednesday that it has agreed to sell 20 percent of its equity for CHF 23.3 million ($25.9 million) to investment firm Xlife Sciences.
The transaction is slated to close next month.
As part of the deal, 4D Lifetec said that it will gain access to an artificial intelligence-based digital health software that Xlife developed specifically for use with its 4D Lifetest early cancer detection technology, which uses a novel biomarker called DDS — or DNA damage sensitivity — to quantify DNA fragmentation in blood.
"Bringing these two technologies together will enable 4D Lifetec to seamlessly integrate data from diverse sources, including patient history, genetic information, and imaging, providing comprehensive decision support for oncologists," 4D Cofounder and Chairman Arne-Christian Faisst said in a statement.
4D Lifetec currently markets 4D Lifetest Lung Dx for lung cancer in Europe, and it has CE-IVD marked assays for breast, prostate, and colon cancers. The company is planning clinical trials for the lung cancer test in the US, where it is also exploring a potential initial public offering.
In mid-2022, 4D Lifetec raised CHF 1.9 million in Series B funding. A few months later, the company partnered with the Molecular Diagnostics Group to produce and automate 4D Lifetest assays and develop the tests for high-throughput screening.