ProteoMediX raises CHF 5m from Altos Venture et al.
ProteoMediX, a Zurich-based company developing diagnostic tests for the detection, prognosis and therapy selection of cancer, has raised CHF 5m (€4.6m) in a funding round led by Altos Venture and completed by other existing investors.
As in previous funding rounds, this one was led by Altos and completed by Zürcher Kantonalbank. Other private investors also recommitted capital as part of the transaction.
Altos and the Zürcher bank have been consistently re-upping their investments through each funding round since 2012.
The medical group is currently focusing on the development of advanced tests for the detection of prostate cancer, and intends to use the new funds to continue the development of its lead product into a final CE-certified in-vitro diagnostic product. It will additionally aim to gather additional clinical data to develop a follow-on product.
Previous funding
ProteoMedix has raised CHF 12m (€11m) to date, mostly provided by Altos. The funding rounds included a €2.1m series-A round in 2012, two series-B rounds in 2014 and 2015, worth €2.6m and CHF 1m respectively, and the latest CHF 5m series-C announced on 19 August 2016.
All rounds have overwhelmingly been led by Altos, with Zürcher Kantonalbank completing the rounds. Other investors also include private investors of the BioValley Business Angels Club BioBAC, based in Basel.
Company
ProteoMediX is a spinoff of Swiss company ETH Zurich and is specialised in the identification of novel biomarkers for the early detection of cancer. It enables personalised medical treatment by developing non-invasive diagnostic tests to detect and assess the prognosis of cancer, and to match patients with safer and more effective therapies. Lately, ProteoMediX has been specialising in the early detection of prostate cancer.
Founded in March 2010, the group is based in Schlieren, a municipality in the district of Dietikon in the canton of Zürich. It is led by CEO and co-founder Ralph Schiess, and CFO and co-founder Christian Brühlmann.
People
Altos Venture – Walter Fischli (chairperson).
BioValley Business Angels Club BioBAC – Peter Burckhardt (president).
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