Sciety invests in cancer diagnostics of the future with Industrifonden
Sciety invests SEK 35 million in the company Elypta, which is developing a new method for early cancer diagnosis. The Sciety network together with the Swedish venture capital fund Industrifonden, Chalmers Ventures and several of the company’s existing owners took part in the capitalization. The new capital of a total of SEK 64.8 million will be devoted to a study that is expected to result in market approval in Europe and the US.
Elypta was founded at Chalmers to develop a method for diagnosing cancer at an early stage. The method is based on measuring metabolites in the blood and then analyzing them with the company’s software solution. Initially the company focuses on kidney cancer which will be succeeded by other cancer indications.
The new capital of a total of SEK 64.8 million will be directed to completing product development and conducting a large-scale study on kidney cancer that is expected to lead to market approval in Europe and the USA. The Sciety network together with Industrifonden, Chalmers Ventures and several of the company’s existing shareholders took part in the issue. Venture capital companies and strong private individuals from Sciety’s network, 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 diagnosis. Our network has shown great interest in Elypta” says Andreas Lindblom, CEO of Sciety.
“Through Sciety’s network we have gained several venture capital companies and capital-intensive private individuals as new shareholders. Sciety has been a very appreciated partner throughout the financing process. Now we look forward to completing product development and conducting the study on kidney cancer that has been planned in collaboration with leading researchers” says Karl Bergman, CEO of Elypta.
Sciety is an investment network specialized in Nordic companies in life science and health tech. We combine life science and finance experience to select eminent companies for Sciety and its co-investors. Our goal is that life science innovations reach their full potential.
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