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Artidis raises close to CHF 9 million in seed funding

Basel-based medtech company Artidis has raised CHF 8.8 million in seed funding in two rounds. A spin-off from the University of Basel, Artidis has developed a nanotechnology device for diagnosing cancer.

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The team of Artidis, a spin off from the University of Basel. Image Credit: Artidis

 

Artidis has developed the first nanomechanical biomarker for cancer diagnosis and treatment optimization. According to a press release, it has now raised CHF 8.8 million seed financing in two rounds, which it will use to advance its Artidis nanotechnology platform into a large clinical study together with the University Hospital Tübingen in Germany, the University Hospital Barcelona in Spain, and the Texas Medical Center (TMC) in Houston, Texas, the world’s largest medical center. Artidis recently qualified for TMC’s Innovation Accelerator program.

The study results will be used to gain approval for the Artidis medical device and data platform in the US and Europe, with the goal of entering the diagnostic market in 2021.

Along the way, it intends to continue to work with institutions in Basel. The medtech company is a spin-off from a research group at the University of Basel and the Swiss Nanoscience Institute. In addition, it has already participated in the Venture Mentoring program run by the business development agency BaselArea.swiss.

“The closure of this financing round and the successful recruitment of 545 patients in our first clinical study at the University Hospital Basel this year is a huge success,” said Artidis CEO Marija Plodinec.

According to Martin Gertsch, Chairman of the Board of Artidis, part of the company’s recent success is due to the expertise of new board members. Trudi Haemmerli from Innosuisse, the Swiss Innovation Agency, and Reinhard Ambros, former global head of the Novartis Venture Fund, both joined the board this year.

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