NEW YORK (GenomeWeb) — Biogazelle said today that it has received a €2 million ($2.5 million) investment from Qbic Arkiv Fund, Foundation Majoie, and SOFI (Spin-Off Financing Instrument).
Ghent, Belgium-based Biogazelle said that it will primarily use the investment to further develop its research on therapeutic RNA targets for specific cancer types and expand its commercial activities.
Biogazelle is a 2007 Ghent University spinout founded by CEO Jan Hellemans and CSO Jo Vandesompele. The company uses tools such as RNA sequencing, digital PCR, and its qbase+ software to provide gene expression analysis services.
"After a successful start period with an annual growth rate of 70 percent during which Biogazelle's qbase+ software was launched and a laboratory service was initiated, it was important to acquire additional funding to support the growth and internationalization of our commercial activities … and to start our own research programs," Hellemans said in a statement.
Vandesompele added in a statement that the company plans to "prioritize top candidate RNA targets, followed by high-throughput testing in our lab using anti-sense silencing technology."