FRIZ Biochem raised Euro 3 Million in a First Closing of its Series B to Push Biochip-Platform

02-Apr-2003
FRIZ Biochem GmbH, a developer of second generation DNA-microarrays based on electrical read-out techniques for the detection of hybridisation events, announced the first closing of Euro 3 million of its series B financing. The financing round was led by the existing shareholder Global Life Science Ventures. DRF Beteiligungsgesellschaft joined as a co-investor. Additional financing, including soft loans, is expected from a second closing. "We are convinced that FRIZ's electronic DNA detection systems will open up the diagnostics market for microarrays with its low instrumentation cost and no need for pre-amplification and labelling," said Dr. Hans A. Kuepper, Partner at Global Life Science Ventures. "With its truly novel technology, FRIZ fits well into our portfolio." "We are very proud of attracting this level of commitment, which demonstrates the confidence of our investors in FRIZ's potential despite harsh market conditions," commented Dr. Gerhard Hartwich, CEO of FRIZ Biochem. "This financing will enable us to establish pilot production capabilities and validate the first microarray assays in the field of food pathogens and clinical diagnosis." In the long term, the Company will build on its assay development and marketing partnering strategy to demonstrate the highly competitive position among DNA microarray technologies.

Other news from the department business & finance

Most read news

More news from our other portals

Fighting cancer: latest developments and advances

See the theme worlds for related content

Topic world Diagnostics

Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.

10+ products
4 whitepaper
10+ brochures
View topic world

Topic world Diagnostics

Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.

10+ products
4 whitepaper
10+ brochures