August 9, 2024
Germany based Biomarker Company SphingoTec Secures €5M to Accelerate Protein Biomarker Innovations
Hohen Neuendorf, Brandenburg, Germany –
SphingoTec GmbH, a biomarker company focused on developing and marketing in vitro diagnostic solutions, has secured €5M in its Series C funding round. The round was led by Think.Health Ventures and included support from Brandenburg Kapital, HBM Healthcare Investments, NRW.BANK, and Wellington Partners. The funds, raised on August 8, 2024, will be used to accelerate the market development and financial growth of SphingoTec's innovative blood-based protein biomarkers, particularly in critical care conditions like acute kidney injury, sepsis, and acute heart failure.
About the company
SphingoTec GmbH, founded in 2002, has established itself as a key player in the field of diagnostic testing, offering novel biomarkers that address unmet needs in critical care. The company’s portfolio includes proprietary blood-based protein biomarkers and microtiter plates, which are standard tools in analytical research and diagnostic testing laboratories. SphingoTec's biomarkers are designed to provide accurate diagnostic solutions for conditions that are often underserved in the healthcare sector, making a significant impact on patient care and outcomes.
Purpose of financing
With the newly raised funds, SphingoTec plans to expand its market presence, enhance its product offerings, and drive innovation in the diagnostic space. The company is focused on scaling its operations and accelerating the commercialization of its biomarkers to reach a broader audience. This funding will also support the development of new diagnostic tools and technologies that can further improve patient outcomes in critical care settings.
What the company’s official has to add
Dr. Andreas Bergmann, CEO of SphingoTec, commented on the funding round, saying, "We are thrilled to have the support of our investors as we continue to advance our mission of improving diagnostic solutions for critical care conditions. This funding will allow us to accelerate our growth and bring our innovative biomarkers to more patients worldwide."
What the investors have to comment
Dr. Florian Kainzinger, Managing Partner and Founder of Think.Health Ventures, commented, "We are pleased to support SphingoTec at this exciting stage of the company's development. With its developed and commercialized lead product penKid, SphingoTec is well-positioned for global expansion through out-licensing to key players in the diagnostic industry."
In Conclusion
SphingoTec’s latest funding round marks a significant milestone in its journey to revolutionize diagnostic testing in critical care. With strong backing from both new and existing investors, the company is well-positioned to continue its growth and innovation in the healthcare industry.
Website: SphingoTec GmbH
LinkedIn: SphingoTec GmbH