Lund, Sweden-based Aligned Bio, a nanotechnology firm, introduced on Monday that it has secured SEK 19.4M (roughly €1.6M) in funding by a brand new share challenge.
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.
In addition to 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 accomplice who can assist us carry it to market. I’m very a lot wanting ahead to leveraging SmiLe’s in depth 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: Creating nanowire-based expertise platform for biosensors
Led by Kenneth Harlow, Aligned Bio is creating 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 instances increased sensitivity in diagnostics in comparison with current industrial sensors.
The manufacturing of nanowires additionally turns into less complicated and thus more cost effective than with current strategies. The corporate is now beginning to scale up manufacturing.
The corporate is conducting initiatives in collaboration with main gamers within the diagnostics business, together with Roche Diagnostics.
The corporate can also be collaborating with different worldwide corporations 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.
Just a few days again, Ulrika Ringdahl was appointed CEO of SmiLe Enterprise Hub, succeeding Ebba Fåhraeus, who stepped down after 10 years.
The platform gives complete help by each stage of entrepreneurship, together with tailor-made incubation and acceleration packages, quite a lot of instructional programs, and entry to top-tier lab amenities.
So 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 very happy that Aligned has been so profitable with its financing. This permits their groundbreaking merchandise to achieve 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.
