ProteoMediX AG, a Zurich-Schlieren, Switzerland-based diagnostic company developing non-invasive diagnostic tests for the accurate detection, prognosis and therapy-selection of prostate cancer, closed a CHF5m (€4.5m) equity funding.
The round was led by Altos Venture with participation from existing investors Zürcher Kantonalbank and others.
The company, which has raised close to CHF 12m (€11m) in total to date, intends to use the new funds to continue the development of its lead product for prostate cancer diagnosis into a final CE-certified IVD product and gather additional clinical data, and of a follow-on product for the prognosis of prostate cancer.
Led by Dr. Ralph Schiess, CEO and co-founder, and Christian Brühlmann, CFO and co-founder, ProteoMediX is advancing a test intended as an aid in the detection of prostate cancer, i.e. to inform men with elevated PSA (prostate specific antigen) and/or suspicious DRE (digital rectal examination), about the likelihood of having a cancer positive biopsy.