Symcel raises 105 MSEK to develop rapid diagnostics to combat severe infections

– The funding will also accelerate the commercialization of Symcel’s R&D product offering

(STOCKHOLM) Symcel — a company providing real-time metabolic measurements of living organisms with their analytical instrument the calScreener™  ̶  today announced the successful completion of 105 MSEK investment that will be used to develop an in vitro diagnostic (IVD) prototype for rapid infection diagnostics, based on today’s proprietary technology platform. The investment will also boost Symcel’s current lab tools offering to large and established R&D markets, including the start of a US entity to act as a base for growth and support of American customers. The scale-up is accompanied by the addition of Dr Stefan Larsson to the Symcel Board of Directors, providing extensive know-how of corporate and healthcare strategy.

The IVD solution will be developed to fit the growing needs of clinicians to aid in the rapid diagnosis of life-threatening infections. This will be the first diagnostic tool combining fast detection and pathogen identification of living cells directly from clinical samples in implant, tissue, and surgical infections. The aim is to drastically reduce the time needed to administer effective treatments, which is especially important with increasing antibiotic resistance globally.

Flerie Invest, Lareim and a few family offices participated in this financing round. Thomas Eldered, Founder and President of Flerie Invest stated, “Symcel’s team has together with leading research groups shown that its proprietary platform can play a key role in the fight against antibiotic resistance. We believe that the development of a diagnostic system using Symcel’s technology, can significantly reduce the time to diagnosis of severe infections and improve patient outcomes”.

To help steer this new phase, Symcel has appointed Dr Stefan Larsson to the Board of Directors. Dr Larsson is an MD, PhD trained at Karolinska Institute and Harvard Medical School. Stefan has decades of experience on company strategy, having spent the past 25 years at Boston Consulting Group with a large focus on the healthcare sector. “It’s a privilege to be joining the Board of such an exciting company. Symcel finds itself on a trajectory towards IVD and the clinic with a unique offering that can provide significant improvements in quality of care, at reduced hospital costs. I look forward to helping guide the company to what I believe will be a very rewarding future,” remarked Dr Stefan Larsson.

Symcel CEO, Dr Jesper Ericsson commented: “Symcel is entering an exciting next phase and we are enthused about the support from existing and new investors. Stefan will be a huge asset to Symcel, the Management team and for the direction that we are heading, not least with Stefan’s understanding of the Payer & Provider sector in the US and EU. All our experience so far has shown us the critical need to get rapid diagnostics in the hands of clinicians who can then make better decisions for their patients”.

ENDS

For more information, please contact Ben Libberton (ben.libberton@Symcel.com)

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About Symcel

Symcel is leading a new era in metabolic measurements for use in R&D, rapid diagnostics, and improved therapies. Symcel provides a novel cell-based assay tool for real-time biological activity measurements based on a powerful technique called isothermal microcalorimetry. Their solution is a fast, label-free phenotypic screening technology for direct measurements on cell behavior and drug responses. Symcel was founded by leading authorities in microcalorimetry and the current team at Symcel has extensive experience within the biotechnology industry and diagnostics.