ProteoMedix, a Switzerland-based prostate cancer diagnostics spinout from ETH Zurich, obtained CHF5.2m ($5.3m) on Monday in a round led by venture capital firm Altos Ventures. Canton of Zurich-owned financial services firm Zürcher Kantonalbank took part in the round, together with assorted angel investors. Founded in 2010, ProteoMedix develops medical products for the diagnosis and prognosis of prostate cancer. The spinout’s lead project is a blood-based test for a protein biomarker, linked to the cancerous PI3K/PTEN pathway, which could help clarify false positives and avoid side effects from traditional prostate biopsies. The product has already undergone several clinical studies. ProteoMedix will use the cash to start market development and continue other preparations as it gears up for business in Europe. ProteoMedix’s funding total now stands at $17.4m, according to the company, including $5.2m raised in a 2016 Altos-led round that featured Zürcher Kantonalbank and unnamed private investors. The same consortium backed the spinout’s $4.6m series B round, held over two tranches in 2014 and 2015. ProteoMedix also received $2.8m in series A funding in 2012 from Zürcher and unspecified affiliates of BioValley Business Angels Club. ProteoMedix’s co-founders include the company’s CEO, Ralph Schiess, who completed a PhD at ETH Zurich in mass spectrometry-based proteomics. He said: “We are very pleased with the continuous financial support we receive. “This reflects the continuous progress we made in the past and the potential of our approach for improving prostate cancer diagnosis.”
ProteoMedix discovers $5.3m round
Aug 29, 2018 •
LEADERSHIP SOCIETY
Informing, connecting, and transforming the global corporate venture capital ecosystem.The Global Corporate Venturing (GCV) Leadership Society’s mission is to help bridge the different strengths and ambitions of investors across industry sectors, geography, structure, and their returns.
More featured content
Halo has researchers on speed dial for corporates
Halo has researchers on speed dial for corporates
How does a corporate find the right university researcher or startup when it's trying to solve a critical problem? Halo has the answer.
How Basel supercharged its spinout rate
How Basel supercharged its spinout rate
Basel has quietly built a life sciences ecosystem that’s becoming hard to ignore.
Crumbling system, fragile lives: can spinouts help in the senior care crisis?
Crumbling system, fragile lives: can spinouts help in the senior care crisis?
From a chest-worn device to help with Parkinson's symptoms to stress measuring socks — here are the spinouts providing support for senior citizens.
Events
Webinar: Innovate to heal - What does the hospital of the future look like?
Apr 10, 2024
Online
Online
Events
GCV Institute: Landing the Value of Corporate Venturing
May 6 -
May 9, 2024
Online
May 9, 2024
Online
Events
GCV Institute: CVC Investment Programs
May 21 -
May 22, 2024
Online
May 22, 2024
Online
Events
GCV Symposium 2024
Jun 24 -
Jun 26, 2024
London (UK)
Jun 26, 2024
London (UK)
Events
Corporate Venture in Brasil 2024 – International Delegation to Brazil
Oct 28 -
Oct 30, 2024
São Paulo (Brazil)
Oct 30, 2024
São Paulo (Brazil)
Top News
test reg