SpinDiag remains on course for success
Freiburg-based SpinDiag GmbH succeeds in concluding a series A round on 3 million euros. The funds will be used to start clinical validation in Europe.
One and a half years after the seed financing of 1.5 million euros, the start-up SpinDiag has now succeeded in acquiring a further 3 million from existing private investors and a new business angel. The new member of the investor group is the former Procter & Gamble manager Werner Geissler. SpinDiag is building a system that can determine 25 antibiotic resistances within 30 minutes instead of three days. The fresh capital will be used to complete the development of the rapid test for dangerous pathogens and start clinical validation. Pilot trials at the University Hospital of Freiburg have already shown great promise.
The rapid determination of antibiotic resistance using the SpinDiag One rapid diagnostic test enables patients colonised with antibiotic-resistant germs to be treated in such a way that no other patients are at risk. "The SpinDiag system will provide healthcare institutions with a standardised, efficient and economic screening process that transparently focuses on patient safety," said Mark Keller, co-founder and Chief Product Officer of SpinDiag, in an interview with the biotech magazine |transkript. The Freiburg start-up was founded in 2016 by the Institute of Micro and Information Technology of the Hahn-Schickard-Gesellschaft.
The Freiburg-based company has already received several prizes for its development, including the Health-i-Award of the Techniker Krankenkasse and the Handelsblatt as well as the HealthTech Cluster Award of the medical technology manufacturer B. Braun AG. Since 2007, the BMBF has supported the development of the SpinDiag system with various funding programmes. Participation in the Biotechnology Innovation Academy in November 2013 gave SpinDiag the crucial boost for its final business orientation.