AyoxxA Biosystems, a Cologne, Germany, and Singapore-based biotechnology company, has closed a €2.6m Series A financing.
The round was led by Wellington Partners Venture Capital, with participation from NRW.BANK, High-Tech-Gründerfonds, and private investors including Chairman of the Board Rainer Christine and Dr. Gregor Siebenkotten.
The company intends to use the capital to further develop its proprietary platform technology and scale-up production of its bead-based biochips as it moves towards commercialization.
Founded as a spin-off of the National University of Singapore (NUS) in 2010 and led by Dr. Andreas Schmidt, CEO, AyoxxA has developed a proprietary technology platform for multiplexed protein analysis. Its “In-situ Encoded Bead-based Arrays” (IEBA) allow precise protein analysis in very small sample volumes. Following the funding, the company’s Board will comprise Chairman Rainer Christine; board members Regina Hodits, Matthias Dill and Aristotelis Nastos (NRW.BANK); and Board Observers Lukas Günther (Wellington Partners) and Florian Stinauer (NRW.BANK).