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Biognosys Raises $5M in Extended Series C Financing

NEW YORK (GenomeWeb) – Proteomics firm Biognosys said today it has raised $5 million in an extended Series C financing round.

The company said it plans to use the funds to extend its commercial operations, and develop new proteomic workflows and products broadly aimed at the life sciences research market.

"The feedback that we get from our customers shows there is a shift in the perception of proteomics, away from a highly specialized analytical tool and towards a universally applicable technology for mode of action studies and biomarker development," Biognosys Cofounder and CEO Oliver Rinner said in a statement. "The funds will help us to further extend our technological lead, to accelerate the development of new products and workflows, and to better address the life science research market outside the classical proteomics field."

Founded in 2008 as a spinout from the lab of Swiss Federal Institute of Technology researcher Ruedi Aebersold, Biognosys initially focused on targeted proteomics services like multiple-reaction monitoring assays. The firm has more recently come to focus on its Hyper Reaction Monitoring mass spec approach, a Swath-based DIA method that it offers as a service mainly for discovery work and large-scale protein quantitation.

The company originally announced the close of its Series C round at the beginning of 2016, saying at the time that the round had raised in the "mid-single-digit millions" of dollars.