Industrifonden leads series A financing in Pixelgen Technologies to support commercial expansion of groundbreaking spatial proteomics platform for single cells
Pixelgen Technologies, a leader in spatial proteomics for single cells, announced today that it has closed a Series A financing of approximately $7.3 million. The round was led by Industrifonden, Sweden’s largest deep tech venture capital fund. The existing investor Navigare Ventures also participated in the financing. Proceeds from the financing will support the commercial expansion of Pixelgen’s recently launched spatial proteomics tool for analyzing cell surface proteins on single cells to transform drug discovery and basic science.
Unlike spatial proteomics tools based on optical technologies or single cell assays, Pixelgen’s disruptive DNA-based visualization technology – Molecular Pixelation – offers a deep and detailed 3D view of the behavior of cell surface proteins at the single cell level, in high resolution, high throughput, and highly multiplexed. The new insights from this technology potentially offer an unprecedented understanding of human health, disease, and how drugs work to fight disease.
“We are extremely excited to back the Pixelgen team with such a strong serial entrepreneurial backgrounds with unicorn outcomes and unique technology foundation based on combination of advanced molecular research and computational innovation. Pixelgen fits perfect with the Industrifonden deep tech investment strategy and depth in computational biology and we are honored to support Simon and his team to become a category leader within spatial proteomics during the coming decade,” said Patrik Sobock, Senior Investment Director, at Industrifonden.
“Pixelgen has made great progress since we emerged from stealth less than a year ago. Last month we shipped our first product to advance drug development and research in immunology, and we’ve expanded our team with top talent,” said Pixelgen CEO Simon Fredriksson, Ph.D. “As we enter this next phase of growth, we are grateful and honored to have the support and expertise of Industrifonden.”
In conjunction with the financing, Industrifonden Senior Investment Director Patrik Sobocki, Ph.D., will join Pixelgen’s board of directors. Sobocki brings decades of experience in healthcare, technology, and entrepreneurship to the board, in addition to his background in international research and development and commercial leadership roles in global pharmaceutical companies.