LONDON, UK: Arix Bioscience’s portfolio company Depixus has successfully completed its oversubscribed Series A financing which raised €30.6 million (£26.1 million).
Depixus is a biotechnology company developing a unique technology for the fast, accurate, and straightforward extraction of multiomic information from DNA, RNA, and proteins. Funds from the financing will enable Depixus to further develop its proprietary MAGNA instrument system, workflows, and reagents towards commercial launch.
Having participated in the first tranche of the Series A financing in February 2021, investing €2.7 million (£2.4 million), Arix now has a 14.2% fully diluted ownership stake in Depixus.
Mark Chin, Managing Director at Arix and Depixus Board Director, commented: “This is an exciting time for Depixus as it moves forward with its goal to commercialise a highly innovative technology platform for the fast, accurate, and inexpensive extraction of genetic and epigenetic information from single molecules of DNA and RNA. Arix is committed to building breakthrough biotech companies, and it is a privilege to work alongside such a distinguished team of entrepreneurs and co-investors.”
Depixus is a biotechnology company developing a unique technology for the fast, accurate, and straightforward extraction of multiomic information from DNA, RNA, and proteins.
Gordon Hamilton, CEO and Co-founder of Depixus, commented: “We are extremely excited by the power of our MAGNA technology to overcome the current challenges of base modification sequencing and RNA structural analysis. Our technology looks set to open new horizons in applications such as biomarker discovery for liquid biopsy cancer detection, virology, and the development of drugs targeting RNA.
We are very pleased to attract such a strong group of investors, which further validates the potential of the MAGNA platform to transform our understanding of cellular processes. Thanks to the support from our new and existing investors, we will continue to recruit additional top talent in France and the UK to further develop the platform through to commercial launch and beyond.”
Thibaut Roulon, Senior Investment Director at Bpifrance said: “We are delighted to partner with Lansdowne to support Depixus in the development of its MAGNA instrumentation system.
The company is a laureate of the final phase of France’s Worldwide Innovation Challenge. Depixus has proven the excellence of its breakthrough technology for the fast, accurate and straightforward extraction of information from DNA and RNA molecules beyond their simple sequence. This opens the door for many applications such as earlier and more accurate cancer diagnosis.”
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