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Startup Pepric Completes $1.8M Round

NEW YORK (GenomeWeb News) – Belgian startup Pepric announced recently it had completed a €1.4 million ($1.8 million) financing round.

The company, a spinout of Imec, said the money will be used to support the production and commercialization of its first product, a tool for quantitative molecular and cellular detection in tissue, urine, and blood samples. Additionally, the funds will go toward the development of Pepric's core in vivo detection technology.

A significant part of the financing comes from Spin-Off Financing Instrument, created in 2011 and funded by four Flemish Strategic Research Centres — IBBT, Imec, VIB, and VITO. Imec's investment vehicle for spinout companies, FIDIMEC, also invested in the round.

Pepric develops technology for the quantitative molecular detection and imaging of biological processes "evolving slowly over time," it said in a statement. Using nanotechnology and imaging technologies, it is developing systems similar to PET and SPECT scanners.

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