Diagnoplex SA, a Lausanne, Switzerland-based developer of molecular diagnostics for colon cancer, has closed a series A financing extension with Debiopharm Group.
Under the terms of the agreement and subject to certain (undisclosed) milestones, Debiopharm Group will invest a “substantial” amount in the company, half of which upfront.
Investors in the CHF10m series a A round include Novartis Venture Fund, NeoMed, and Initiative Capital Romandie.
As state by Stavros Therianos, Ph.D., CEO and founder of Diagnoplex, Debiopharm will support the target of bringing the company’s flagship product, Colox, to patients worldwide.
Colox is a non-invasive, blood-based test for the early detection of colon cancer. Diagnoplex is currently conducting a clinical validation study which involves nine centres in Switzerland, Germany, and South Korea, and will enrol 1400 individuals.