STOAF III SciTech invests in Aligned Bio
Aligned Bio, a single molecule detection company, announced an oversubscribed A round investment of 23 MSEK led by STOAF III SciTech and Fårö Capital. Previous investors Almi Invest and MIST Ventures continued their participation.
Aligned Bio’s mission is to utilize its single molecule identification technology in the multibillion USD biomedical market. Aligned Bio’s sensitivity is enabled by its patented nanowire production and alignment methods and its proprietary waveguiding technology. This low-cost single molecule/dye technology will form the core behind its long-read sequencing offering and fast and affordable protein and nucleic acid detection capability.
Aligned’s demonstrated ability to offer orders of magnitude increase in molecular sensitivity at point of care level costs, portends a potential shift in medical diagnostics, monitoring and therapy, states STOAF’s General Partner and head of Life Sciences, Dr. Claes Post. “We are excited to be part of this market impacting technology.”
Showing single dye identification capability in a NW based flow cell that offers more than a billion reads could increase significantly the genetic information that is presently offered by the industry leaders at lower costs, said Professor Fredrik Höök of the Biological Physics Department at Chalmers University. The sequencing industry will be changing mightily over the next few years. This technology should be an important player as the industry ushers in its next phase of growth.
The new money will be used to ramp production of its first product and conclude the development phase of its sequencer product. “The data sets from both partners and internal work show orders of magnitude increase in limits of detection for biomarkers of interest,” says Dr. Soren Echwald Morgenthaler, head of product technology at Aligned, “the ability to expand production capabilities for this product will enable our next steps in customer engagement.”
“I’m very excited that AlignedBio has secured funds that will enable the company to further develop its disruptive technology with a potential to transform both DNA sequencing as well as biomarker detection”, says Per Antonsson, Investment Manager at Almi Invest.
About STOAF III SciTech
STOAF III SciTech is Stoaf’s third fund generation. SciTech primarily invests in Sweden but can also invest in the other Nordic countries. The focus is on early stage start-ups with advanced technologies (Deeptech) and Life Sciences that makes an impact.
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STOAF II portfolio company PERCEPIO ANNOUNCES SUCCESSFUL CLOSING OF A 22 MSEK (2.3 MUSD) SERIES A FUNDING ROUND
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