Biognosys raises new funds for US expansion
Author: Stefan Kyora12.01.2016 12:25
Biognosys, a Swiss next-generation proteomics company, has closed the largest funding round in the history of the company. Investor is a corporate investment fund. Redalpine has divested its stake in Biognosys. We spoke with CEO Oliver Rinner about the background.
Biognosys’ technology quantifies proteins with unbeatable precision and depth. Customer of the Zurich-based start-up are industrial research and development departments especially in biotech companies. They use Biognosys services and products for drug discovery. The most important market for Biognosys is already the USA. The company is using the Series C financing round to establish business development and service operations there. Biognosys’ new operations will be established in Boston, which is home to one of the largest biopharma clusters in the US. The R&D department of Biognosys will stay in Schlieren.
The funding will also allow Biognosys to develop new workflows and products for high-content protein analysis. "We believe that the ability to decode the proteome is key for a better understanding of life and will help to develop better drugs, crops, diagnostics and biomaterials in the future. Our mission is to enable researchers to effortlessly analyze whole proteomes by providing superior and easy to use analytical technology” says Dr. Oliver Rinner, CEO and co-founder of Biognosys.
He further says: “The main driver of revenue growth over the last two years has been the growing customer base benefiting from Biognosys’ proprietary HRM technology, a mass spectrometric method based on the SWATH-MS approach from the Aebersold lab at the ETH Zurich. The technology has gained a lot of attention from researchers in academia and industry because it reproducibly quantifies up to 8’000 proteins in a single sample run. We believe that with improved workflows and signal processing algorithms we will ultimately be able to essentially see the whole expressed proteome”.
Exit for Redalpine
Redalpine has divested its stake in Biognosys to the corporate investment fund. Redalpine comments in a newsletter: "With Redalpine Capital I in its harvesting phase, this transaction represented an opportunity to secure an attractive multiple on our investment. Redalpine was Biognosys’ first investor and has accompanied the company since 2009 to see it grow from an ETH spin-off into the global technology leader in the field of proteomics.
Biognosys is the leading company in next-generation proteomics. The company with 14 employees makes next-gen proteomics widely available through its services, the Spectronaut and SpectroDive software products for analysis of mass spectrometric data and accompanying workflow and quantification kits.