Elypta, a Stockholm, Sweden-based molecular diagnostics company pioneering metabolism-based liquid biopsies, raised €6.1m in a late seed funding round.
The round was led by Industrifonden and Sciety with participation from Norrsken Foundation, Nina Capital and Chalmers Ventures. Jonas Jendi at Industrifonden will be joining Elypta’s board
The company will use the funds to complete development of its laboratory kits and software for measurement and analyses of a panel of metabolites identified by co-founders.
Co-founded in 2017 by professor Jens Nielsen at Chalmers University of Technology and Dr Francesco Gatto, CSO, and led by CEO Karl Bergman. Elypta develops a metabolism-based liquid biopsy platform enabling early detection and closer follow-up of cancer.
The technology is being developed to be validated across multiple cancers and address a global market. The initial application will be a urine test for early detection of recurring kidney cancer, a condition where there are no suitable tests currently available. The application is currently being explored through the pivotal AURORAX-87A study (NCT04006405), the largest study to date in kidney cancer diagnostics funded by a €2.35 million grant to Elypta from the EU Horizon 2020 program in 2019.