Lund, Sweden-based Aligned Bio, a nanotechnology firm, introduced on Monday that it has secured SEK 19.4M (roughly €1.6M) in funding by way of a brand new share concern.
Each present and new buyers, together with SmiLe Inject Capital, take part within the spherical.
The corporate will use the funds to develop and scale up its nanowire manufacturing expertise.
Moreover funding, the Swedish firm additionally introduced that it has been accepted into the SmiLe incubator program.
”We imagine that our DNA evaluation expertise will quickly be mature sufficient to draw a companion who can assist us carry it to market. I’m very a lot trying ahead to leveraging SmiLe’s intensive community and experience in enterprise improvement. Furthermore, their laboratories and gear give us entry to the devices we actually want,” says Kenneth Harlow, CEO of Aligned Bio.
Aligned Bio: Growing nanowire-based expertise platform for biosensors
Led by Kenneth Harlow, Aligned Bio is growing a brand new nanowire-based expertise platform for biosensors.
The corporate has chosen to use the expertise in two areas: illness diagnostics, reminiscent of most cancers, and genome sequencing (mapping DNA).
The corporate’s expertise can analyse longer DNA fragments and supplies 10-100 occasions increased sensitivity in diagnostics in comparison with present industrial sensors.
The manufacturing of nanowires additionally turns into less complicated and thus cheaper than with present strategies. The corporate is now beginning to scale up manufacturing.
The corporate is conducting initiatives in collaboration with main gamers within the diagnostics trade, together with Roche Diagnostics.
The corporate can also be collaborating with different worldwide firms that recognise the potential to combine nanowire expertise into their merchandise.
The investor
SmiLe is a enterprise hub that specialises in advancing life science startups from idea to commercialisation.
A number of days again, Ulrika Ringdahl was appointed CEO of SmiLe Enterprise Hub, succeeding Ebba Fåhraeus, who stepped down after 10 years.
The platform gives complete assist by way of each stage of entrepreneurship, together with tailor-made incubation and acceleration applications, a wide range of academic programs, and entry to top-tier lab amenities.
Thus far, the corporate’s flagship incubator program has supported over 100 startups, facilitating their collective acquisition of greater than €841M in enterprise capital and contributing to 21 profitable IPOs.
“We’re more than happy that Aligned has been so profitable with its financing. This allows their groundbreaking merchandise to succeed in the market sooner and profit sufferers. We stay up for being concerned and supporting the corporate’s path ahead,” says Ulrika Ringdahl, CEO of SmiLe Enterprise Hub.
