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news.Diagnoplex, a developer of molecular cancer diagnostics, has closed a Series A financing raising $8.3 million. The A-round was led by Novartis Venture Fund and NeoMed, with Initiative Capital Romandie acting as co-investor.
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The Novartis Venture Fund was also a seed investor in the company. BCCC Avocats acted as counsel to the investors and BMP Associes acted as counsel to the company.
In connection with the financing, Anja Konig, a managing director of Novartis Venture Fund, and Thomas Goebel, a principal at NeoMed, will join Diagnoplex’s board of directors, while Claude Suard, partner at DEFI Gestion, will join the board as an observer.
Diagnoplex will use the proceeds from the financing to support the further clinical development of its lead product Colox, a non-invasive test for the early detection of colon cancer, which will be made available as a ready-to-use clinical laboratory kit.
Stavros Therianos, CEO and founder of Diagnoplex, said: “We are excited to welcome a high quality group of investors and look forward to working with this outstanding syndicate to bring powerful new cancer screening approaches to bear on the early detection of cancer.”