Swiss diagnostics company Proteomedix has officially joined forces with Blue Water Biotech to create Onconetix
18.12.2023
Swiss company Proteomedix, focused on improving prostate cancer care and stemming from ETH, has been acquired by US-based Blue Water Biotech on NASDAQ. This deal gives rise to Onconetix, a venture aiming to transform prostate health. The collaboration forms a strong force dedicated to tackling prostate cancer diagnosis and benign prostate hyperplasia treatment.
 CEO Dr. Ralph Schiess and CBO Christian Brühlmann
|
 |
Under the terms of the agreement, Proteomedix shareholders will receive a mix of common shares and preferred shares. The preferred shares are expected to undergo conversion into common shares in the first half of 2024. Upon this conversion and the expiry of a customary lock-up period for Proteomedix shareholders, all Onconetix shares issued to Proteomedix shareholders will become freely tradeable.
Neil Campbell, PhD, recently appointed as CEO of Blue Water Biotech, will assume the role of CEO at Onconetix. The executive management team of Onconetix will include Bruce Harmon as CFO and key figures from Proteomedix, namely Ralph Schiess, PhD, and Christian Brühlmann, who will bring their expertise as founders and executive managers to lead the company into its new phase of development.
Proteomedix was ranked among the TOP Swiss Startups from 2011 to 2015, participated in Venture Leaders Life Science in 2011, and won the last stage of Venture Kick in 2010.
"Winning Venture Kick as well as being ranked among the TOP 100 Swiss Startups was important for us to get visibility early on. We are thankful for the support we received from the Venturelab team and proud to be part of their network," commented Ralph Schiess, CEO of Proteomedix.
CBO Christian Brühlmann and CEO Dr. Ralph Schiess
Neil Campbell, PhD, recently appointed as CEO of Blue Water Biotech, will assume the role of CEO at Onconetix. The executive management team of Onconetix will include Bruce Harmon as CFO and key figures from Proteomedix, namely Ralph Schiess, PhD, and Christian Brühlmann, who will bring their expertise as founders and executive managers to lead the company into its new phase of development.
Proteomedix was ranked among the TOP Swiss Startups from 2011 to 2015, participated in Venture Leaders Life Science in 2011, and won the last stage of Venture Kick in 2010.
"Winning Venture Kick as well as being ranked among the TOP 100 Swiss Startups was important for us to get visibility early on. We are thankful for the support we received from the Venturelab team and proud to be part of their network," commented Ralph Schiess, CEO of Proteomedix.
CBO Christian Brühlmann and CEO Dr. Ralph Schiess