Spinomix SA, a Lausanne, Switzerland-based a life science company, closed a $3m Series A equity funding.
The round was led by drug development company Debiopharm Group, with participation from existing investors and a private US investor group.
Founded in 2004 and located at the Swiss Federal Institute of Technology of Lausanne (EPFL), Lausanne, Spinomix develops fully automated and miniaturised systems enabling extraction, manipulation and detection of biochemical substances with high performance low cost devices. The company uses two proprietary technologies:
– MagPhase™, an automated sample preparation platform based on magnetic nanoparticles and microfluidics with disposable cartridges; and
– FibroTrap™, a fibrinogen based technology, to separate targeted cells and molecules within routine sample collection tubes.
Spinomix intends to use the funds to continue to develop their pipeline and to strengthen existing and new In vitro diagnostic industry collaborations.
In conjunction with the funding, Thierry Mauvernay, Debiopharm, joine the company’s Board.