PharmaDiagnostics rakes €2.5m in series B
This article was originally published in Clinica
PharmaDiagnostics, a Belgian company specialising in label-free screening technology, has raised €2.5m ($3.5m) in its second round of venture financing. The funds came from firm's existing shareholders, with Capital-E leading the round. Vinnof, the PhD Partnership and Allegro Investment Fund also contributed. Zellik-based PharmaDiagnostics said it will use the new capital to commercialise existing assays – it expects to close at least one deal in the fourth quarter – and further develop new products from its platform screening technology. While all other label-free technologies require expensive, specialised equipment which restricts their applications and compound throughput, PharmaDiagnostics' plasmon resonance technology can be used in assays for both small molecule antibody screening and characterisation, incorporates simple mix-and-read protocols and can be applied in high throughput applications.