ProteoMediX raises CHF 5.2 million in financing round
28.08.2018
ProteoMediX has announced the successful closing of an equity financing round. The diagnostic company raised CHF 5.2 million from existing investors.
 Dr. Ralph Schiess (CEO) and Christian Brühlmann (CFO)
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The financing round was led by Swiss venture capital firm Altos Venture, which is chaired by Dr. Walter Fischli, co-founder of Actelion. All existing investors participated in this round, including Zürcher Kantonalbank and several private investors. All in all, ProteoMediX has now raised a total of CHF 17 million in equity.
With the new funds, ProteoMediX will start the market development of its lead product for prostate cancer diagnosis. The blood-based test is intended as an aid in the detection of prostate cancer and informs men with elevated PSA (prostate-specific antigen) or a suspicious DRE (digital rectal examination) about the likelihood of a cancer-positive biopsy. The goal is to significantly reduce unneeded prostate biopsies, more than half of which are negative.
ProteoMediX was founded in March 2010 as a spin-off of ETH Zurich. The Venture Kick winner, Venture Leaders alumnus and member of the TOP 100 Swiss Startups every year from 2011 to 2015 owns the exclusive commercial rights on a set of protein-based biomarkers that help detect prostate cancer more accurately than standard PSA tests. "Winning Venture Kick Stage III as well as being ranked among the TOP 100 Swiss Startups was important for us to get visibility early on", says ProteoMediX CEO Ralph Schiess. "We are thankful for the support we received from the Venturelab team and proud to be part of their network."
With the new funds, ProteoMediX will start the market development of its lead product for prostate cancer diagnosis. The blood-based test is intended as an aid in the detection of prostate cancer and informs men with elevated PSA (prostate-specific antigen) or a suspicious DRE (digital rectal examination) about the likelihood of a cancer-positive biopsy. The goal is to significantly reduce unneeded prostate biopsies, more than half of which are negative.
ProteoMediX was founded in March 2010 as a spin-off of ETH Zurich. The Venture Kick winner, Venture Leaders alumnus and member of the TOP 100 Swiss Startups every year from 2011 to 2015 owns the exclusive commercial rights on a set of protein-based biomarkers that help detect prostate cancer more accurately than standard PSA tests. "Winning Venture Kick Stage III as well as being ranked among the TOP 100 Swiss Startups was important for us to get visibility early on", says ProteoMediX CEO Ralph Schiess. "We are thankful for the support we received from the Venturelab team and proud to be part of their network."