Lunaphore is looking to expand its research platform to the United States following a successful closing of its Series C round. The Swiss startup, based in Lausanne, has raised an additional €1.9 million from the Swiss Entrepreneurs Fund (linked to the Swiss Entrepreneurs Foundation). This brings its Series C round to a total of €23.7 million. Lunaphore is developing innovative next-generation equipment associated with tissue diagnostics and cancer cell research. Its unique approach could see results across the globe.
Lunaphore & its -Omics Approach to In-situ Tissue Analytics for Cancer Research
Founded in 2014, Lunaphore has developed an innovative tissue staining platform based on cutting-edge technology. This technology provides high-quality results associated with tumour analysis much faster than current techniques. It also aims to automate some of the most sophisticated assays with the aid of high-precision fluidics.
With its platform, a test can be performed in less than 5 minutes versus up to 8 hours using other technologies. And, rather remarkably, clinical trials have demonstrated 90% more accurate results when using Lunaphore’s testing technology when compared to the techniques currently employed in hospitals. This startup has repeatedly been lauded for its innovations and has received numerous grants over the years. The closing of its Series C round will hopefully spread the startup’s success in cancer research to farther shores while bolstering its support here in Europe.
Didier Denat, Member of the Decision Committee for direct investments of the Swiss Entrepreneurs Fund and Head of Corporate Banking at Credit Suisse (Switzerland) Ltd. had this to say regarding the latest investment: “With its outstanding management team and technological USPs, Lunaphore is able to show significant market traction, combined with a high degree of customer satisfaction. We are fully convinced in both the business model and strategy of Lunaphore and we are happy to contribute in taking the company to the next level.”
Market expansion is the goal following this investment, and Lunaphore couldn’t be happier: “We are very happy to add the Swiss Entrepreneurs Fund, which focuses on high-growth companies with global ambitions, to our investors’ base. Together with the strategic investment from PHCHD that we recently closed, Lunaphore is now backed by very strong institutions to achieve its vision.”