Sciety invests in cancer diagnostics of the future with Industrifonden
Sciety invests SEK 35 million in Elypta, a diagnostic company developing a new technology for early cancer diagnosis. The Sciety investment syndicate together with the Swedish venture capital fund Industrifonden, Chalmers Ventures and several of the company’s existing owners participated in this investment round. The new capital amounting to SEK 64.8 million will be dedicated to a study which is expected to be sufficient for a market approval in both Europe and the USA.
Elypta was founded at Chalmers to develop a method for early detection of cancer. The technology is based on measuring and analyzing blood metabolites using the company’s data analytics software. The company’s initial objective is kidney cancer and will eventually be extended to other cancer indications.
The new funds of SEK 64.8 million will be used to complete the product development and conduct a large-scale study on kidney cancer, which is expected to be sufficient for a market approval in Europe and the USA. The Sciety investment syndicate together with Industrifonden, Chalmers Ventures and several of the company’s existing shareholders took part in the issue. From Sciety venture capital companies and high-net-worth individuals invested a total of SEK 35 million.
“Elypta has an interesting solution that differs in the field of liquid biopsy by using metabolites instead of ctDNA or proteins. Liquid biopsy is a rapidly growing field that is expected to be of great importance for cancer diagnostics. Our investment syndicate has shown great interest in Elypta,” says Andreas Lindblom, CEO of Sciety.
“Through Sciety’s investment syndicate we have attracted several venture capital companies and financially strong private investors as new shareholders. Sciety has been a highly appreciated partner throughout the financing process. Now we’re looking forward to completing the product development and conducting the kidney cancer study that has been prepared with leading researchers,” says Karl Bergman, CEO of Elypta.
Sciety is the leading investor syndicate in the Nordics with an exclusive focus on life science and health tech. We combine experience from life science and finance to select promising companies in the industry.
Sciety invests own funds in all companies that pass our selection process and offer the network to co-invest on the same terms. The investment syndicate comprises venture capital firms, family offices and business angels. Sciety’s vision is that innovations in life science reach their full potential.
If you wish to receive news regarding companies we have selected to work with and invitations to presentations with their management – subscribe here.