SpinX Technologies, a company focused on the development
of platforms for the automated test and analysis of microexperiments, has announced that it has secured 10 million Euros
in new investments as part of a Series B financing round led by Bio Fund Management.
Several of the investors commented on the company’s
technology, which is said to greatly reduce the manual work required to perform drug discovery experiments and to perform
routine patient diagnostic tests. According to Piero Zucchelli, Head of Research and Product Development at SpinX, "Our technology
is surprisingly simple. It is entirely based on off-the-shelf components and technologies. The main challenge in developing
the platform was the integration of very diverse components - something we are used to dealing with from our days at CERN.
At SpinX, the biology and chemistry adds another dimension, but we've overcome this challenge thanks to our highly diverse
and committed team."
Others that participated in the funding included
Auriga Partners, DEG ePlanted Ventures, CERN Pension Fund and existing Series A investors.
