04.10.2017 Lausanne, Switzerland, October 4th, 2017 – Lunaphore Technologies SA, a Swiss medtech company developing a next-generation technology for cancer tissue diagnostics, announces the closing of a second financing round of CHF 6M.
Lunaphore, a company based in Lausanne, Switzerland, was founded in 2014 with the vision of bringing the future of cancer tissue diagnostics to laboratories and hospitals. After achieving all key milestones to date, the company has closed a substantially oversubscribed CHF 6 million financing round in July. The new investors are Zühlke Ventures, Polytech Ecosystem Ventures and accident Group, along with private investors. Existing investors, including Redalpine Venture Partners, contribute significantly. The funds pave the way for market access.
“We are glad to see the interest of new investors, as well as the strong confidence shown by our existing investors who increased their participation considerably,” says Dr. Ata Tuna Ciftlik, Founder and CEO of Lunaphore. “We believe that Zühlke Ventures’ engineering and industrialization expertise in similar spaces along with Polytech Ecosystem Ventures’ footprint in Silicon Valley support the execution of our strategy and strengthen our international network,” he adds.
Dr. Michael Sidler, General Partner at Redalpine, and Board Member at Lunaphore, states, “We are very pleased to see that Lunaphore’s strategy is well executed by the whole team. The impressive progress of the company has generated solid interest from strategic key players.” Dr. Patrick Griss, Executive Partner at Zühlke Ventures, adds “I look forward to working with a fantastic team and to contributing to the development and market introduction of this truly innovative product“.
Lunaphore builds devices based on a cutting-edge technology that can significantly shorten the time of cancer diagnostics assays and with proven higher precision. The unprecedented speed and quality offered by the products both improve existing tumor analysis and, at the same time, enable a number of new applications. The microfluidic tissue processor technology has already been tested in collaboration with key opinion leaders, internationally, and in different laboratories and hospitals. So far, 3 clinical studies with more than 100 patient cases have been published.
With this latest investment, the company targets to get closer to the multi-billion tissue diagnostics market, and establish key partnerships in product development and commercialization.