Symcel raises 86 MSEK to develop the world’s fastest detection system of live bacteria

(STOCKHOLM) Symcel — a company providing continuous metabolic measurements of living organisms — today announced a new rights issue worth 86 MSEK, financed by a consortium of private health and technology investors including Lareim AB and Flerie Invest AB. The investment will be used to take Symcel into the commercial scale-up stage and launch the world’s fastest system for the detection of live bacteria.

Making a real difference in cell and gene therapy
Symcel’s new system delivers a brand-new solution for testing sterility in the growing cell and gene therapy (C&GT) market using the unique properties of the calorimetry-based detection system paired with machine learning and in-depth application knowledge. The focus is initially on CAR T-cell therapy and other advanced therapy medicinal products (ATMPs) where the ability to identify contamination quickly and in real-time is crucial for delivering lifesaving treatments with high patient safety to critically ill patients.

Symcel resolves a long-standing bottleneck for releasing these life-saving therapies by significantly improving on current best practices in terms of speed and sensitivity. Today’s standard sterility testing methods take 7 days. Symcel´s new system has demonstrated the capability for real-time conditional release in as little as 18 hours and a final release in 2-3 days, dramatically reducing the release time of products and with disruptive market potential.

Strong strategy in detection and diagnostics
The launch into the sterility market is more than a commercial opportunity. Strategically, it provides the company with valuable experience in a regulated commercial market as Symcel grows and develops an in vitro diagnostic (IVD) offering for faster and more accurate detection of infections. The validation of the IVD concept will include a Vinnova-sponsored study (CAL-ORTHO) at the Karolinska Hospital in Stockholm.

For implant and tissue-related infections, two publications on Symcel´s technology have been published where time to diagnosis was cut by more than 90% vs standard of care. Additionally, proof-of-concept data with an all-in-one IVD prototype solution for detection, microbial ID, and antibiotic testing demonstrated time gains by close to 95%. This unique solution utilizes organism-specific metabolic fingerprinting matched with machine learning and can become a game changer in the diagnostics of infections.

Symcel Board of Directors member, Dr Stefan Larsson commented: “High-speed detection and characterization of live bacteria is a very important innovation that promises to have a broad range of important clinical applications for large patient groups.”

Symcel CEO, Dr Jesper Ericsson commented: “We are developing the world’s most advanced microbial detection system, and this investment enables full entry into the first of several targeted regulated markets. In the C&GT market, for example, our measurement speed can change the development landscape. We have received very positive early market feedback where our innovative approach to detection of contamination and infections makes a real difference.”

ENDS

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

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