6. February 2020

Lunaphore receives CHF 23.000.000 Series C financing, led by PHC Holdings Corporation (PHCHD)

€ 23.000.000
Series C
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LAUSANNE,  Switzerland  –  February  6,  2020  –  11:30  am  (CET)  –  Lunaphore Technologies   SA,   a   Swiss   life-sciences   company   developing   innovative   next- generation equipment for cancer research and tissue diagnostics, announces the first closing of its Series C funding, amounting to CHF 23M. The round was led by the Japanese  strategic investor PHC  Holdings Corporation  (hereafter, PHCHD), a global healthcare company that owns Epredia, a leading provider of comprehensive solutions for precision cancer diagnostics.

The closing of the oversubscribed round was finalized on January 15, 2020. Existing investors including Redalpine Venture Partners, OCCIDENT and  Alpana Ventures have also participated in this financing round.

“We are thrilled by the confidence placed in Lunaphore by our existing investors as well  as  the  new  ones  in  this  financing  round.  The  interest  of  global  players  in healthcare,   like   PHCHD   demonstrates   the   relevance   and   added   value   of Lunaphore’s  technology  and  confirms  its  high  potential  to  transform  the  field  of tissue analytics” said Ata Tuna Ciftlik, Lunaphore’s CEO, and added “We’re one step closer to fulfilling our vision of enabling highly sophisticated new-generation tissue analytics tests with our unique automation capabilities. The expertise and rapidly expanding   network   of   the   PHC   Group   and   the   specialist   knowledge   of   the anatomical pathology field at Epredia will both help us gain scale and speed in this process”.

Lunaphore  will  invest  the  proceeds  of  Series  C  funding  in  market  and  product expansion.  This includes a US market entry, the ramp up of activities in Europe and the development of next generation of instruments.

“We are delighted that PHCHD has invested in one of the most exciting players in tissue  staining”  said  James  Post,  President  of  Epredia,  a  PHC  Group  portfolio company. “We believe that their technology has the potential to help revolutionize tissue  analytics  and  greatly  improve  the  workflow  for  pathologists  and  immuno- oncology  researchers.  We  look  forward  to  working  together  with  Lunaphore  to further develop their highly innovative solutions and bring them to market to help further enhance cancer research and diagnostics.” Mr. Post has joined Lunaphore’s Board of Directors as part of the transaction.

“This investment is a strong strategic fit for PHCHD, as we look to invest further in our diagnostics business,” explained Michael Kloss, President and CEO of PHCHD. “Lunaphore’s tissue staining products complement the portfolio we currently have in Epredia and we believe there is a strong opportunity for growth in their business.”

Epredia  was  created  in  June  2019  following  the  acquisition  of  Thermo  Fisher Scientific’s Anatomical Pathology business by PHC Holdings Corporation. Epredia’s portfolio  includes  microscope  slides,  instruments  and  consumables  and  they  are committed  to  providing  high  quality  products  and  services  to  enhance  precision cancer diagnostics.