ProteoMediX raised the 5.2 million Swiss francs from existing investors. According to a statement, these include venture capital firm Altos Ventures from Allschwil in the canton of Basel-Landschaft, Zürcher Kantonalbank, Actelion co-founder Walter Fischli, and several other private investors. To date, ProteoMediX has raised a total of 17 million in equity.
The company’s aim is to significantly reduce the number of negative prostrate biopsies, which are expensive to conduct and cause a considerable amount of emotional stress on the patient.
To this end, the company is developing a blood-based test that is intended as an aid in the diagnosis of prostrate cancer. Study results have shown that the test can reduce over-diagnosis and identify high-grade cancer with high accuracy. ProteoMediX intends to use the new funds to continue market preparations and start with market development of its test.
Founded in 2010 as a spin-off of the Federal Institute of Technology (ETH) in Zurich, ProteoMediX is located in the Bio-Technopark Schlieren-Zurich.
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