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Molecular diagnostics company oncgnostics GmbH closes Series A financing round for CE mark and market entry of its cervical cancer diagnostics test GynTect®

  • 2015

oncg­nos­tics devel­ops mol­e­c­u­lar tests for reli­able can­cer diag­nos­tics based on pro­pri­etary epi­ge­netic bio­mark­ers. With seed financ­ing through High-Tech Grün­der­fonds (HTGF) and the Thuringian Tech­nol­ogy, Inno­va­tion and Research Foun­da­tion (STIFT), oncg­nos­tics imple­mented a qual­ity man­age­ment sys­tem and devel­oped its first test – Gyn­Tect®. This test allows for reli­able diag­nos­tics of cer­vi­cal can­cer and its pre-stages. Now, oncg­nos­tics has raised a seven-digit Euro amount in a Series A financ­ing round led by bm|t beteili­gungs­man­age­ment thürin­gen GmbH, along with two more new investors, Sparkasse Jena-Saale-Hol­z­land and Anas­ta­sia Zepik. HTGF and STIFT also par­tic­i­pated in this financ­ing round and expanded their shareholding.

Udo Werner, CEO of bm|t beteili­gungs­man­age­ment thürin­gen GmbH, has fol­lowed oncg­nos­tics’ activ­i­ties since its estab­lish­ment in 2012. “The oncg­nos­tics team has made rapid progress in the devel­op­ment of Gyn­Tect®. The high mar­ket poten­tial of such an early detec­tion diag­nos­tic test of one of the most preva­lent can­cers in women world­wide has moti­vated us to invest,” he said.

Dr. Alfred Hansel and Dr. Mar­tina Schmitz, CEO and CSO at oncg­nos­tics GmbH, respec­tively, are glad that the new investors, together with HTGF and STIFT, are pro­vid­ing sound financ­ing for future activ­i­ties. “This Series A round allows us to final­ize the CE mark of Gyn­Tect® and to per­form fur­ther rel­e­vant clin­i­cal tri­als. This will enable us to pro­vide the test to patients, gynae­col­o­gists and diag­nos­tic lab­o­ra­to­ries soon!”

Prior to the Series A clos­ing, oncg­nos­tics strength­ened its man­age­ment team; with his long­stand­ing pharma indus­try expe­ri­ence, Dr. Peter Haug will lead busi­ness devel­op­ment & licensing.

With high speci­ficity and sen­si­tiv­ity, Gyn­Tect® detects cer­vi­cal car­ci­no­mas and their pre-stages in women who have tested pos­i­tive for HPV, the causal agent of cer­vi­cal can­cer,” said Prof. Matthias Dürst, Head of the Gynae­co­logic Mol­e­c­u­lar Biol­ogy func­tional unit at the Jena Uni­ver­sity Hospital’s  Women’s Clinic  and co-founder of oncgnostics.

Prof. Matthias W. Beck­mann, Direc­tor of the Uni­ver­sity Women’s Hos­pi­tal in Erlan­gen and key opin­ion leader in women’s health, agrees: “With Gyn­Tect® patients may obtain clar­i­fi­ca­tion after abnor­mal Pap smears and pos­i­tive HPV test results. This may help to avoid unnec­es­sary, inva­sive diag­nos­tics and treat­ments and thus reduce health­care costs.”

Pro­fes­sor Ingo Run­nebaum, Direc­tor of the Gynae­col­ogy Depart­ment of the Jena Uni­ver­sity Hospital’s Women’s Clinic, added, “All women will ben­e­fit from a sim­ple and reli­able diag­nos­tic test like Gyn­Tect®, since cer­vi­cal can­cer is almost always cur­able with early diagnosis.”

About oncg­nos­tics

A spin-off of Jena Uni­ver­sity Hospital’s Women’s Clinic, oncg­nos­tics focuses on in vitro diag­nos­tic tests for the early and accu­rate detec­tion of can­cer uti­liz­ing pro­pri­etary epi­ge­netic bio­mark­ers. The diag­nos­tic prod­ucts allow ear­lier detec­tion of more can­cer cases and thus con­tribute to the improve­ment of ther­a­peu­tic suc­cess. The ini­tial prod­uct devel­oped, Gyn­Tect®, allows the rapid and reli­able detec­tion of cer­vi­cal pre­can­cer­ous lesions and cancer.

About bm|t

Erfurt-based bm|t beteili­gungs­man­age­ment thürin­gen gmbh is a sub­sidiary of the Thüringer Auf­baubank and is the man­age­ment com­pany for six invest­ment funds with a total vol­ume of €250 mil­lion. bm|t invests in inno­v­a­tive com­pa­nies from all high-yield sec­tors and across all stages of a company’s life cycle, from start-up to IPO or MBO.

About Anas­ta­sia Zepik

Anas­ta­sia Zepik is Man­ag­ing Share­holder of ITAI GmbH (Aschaf­fen­burg), a com­pany which invests in small and medium-sized enter­prises with the per­spec­tive for suc­cess in growth mar­kets. Well-posi­tioned, inno­v­a­tive prod­ucts are of prime impor­tance for a pos­i­tive invest­ment decision.

About Sparkasse Jena-Saale-Holzland

For more than 185 years, Sparkasse Jena-Saale-Hol­z­land has been a strong and reli­able regional part­ner. With its large branch net­work, con­sul­tants are avail­able for their clients in the imme­di­ate vicin­ity, allow­ing impor­tant deci­sions to be made quickly and locally. Sparkasse offers every­thing in one place, from check­ing accounts to real estate bro­ker­age, and con­struc­tion finance to com­mer­cial and cor­po­rate lend­ing. As a pub­lic insti­tu­tion, Sparkasse is com­mit­ted to the com­mon good and eco­nomic devel­op­ment of the Jena-Saale-Hol­z­land region and peo­ple who live there.

About HTGF

High-Tech Grün­der­fonds invests in young, high poten­tial high-tech start-ups. The seed financ­ing pro­vided is designed to enable start-ups to take an idea through pro­to­typ­ing and to mar­ket launch. Typ­i­cally, High-Tech Grün­der­fonds invests €500,000 in the seed stage, with the poten­tial for up to a total of €2 mil­lion per port­fo­lio com­pany in fol­low-on financ­ing. Investors in this public/private part­ner­ship include the Ger­man Fed­eral Min­istry of Eco­nom­ics and Energy, the KfW Bank­ing Group, as well as strate­gic cor­po­rate investors includ­ing ALTANA, BASF, Bayer, B. Braun, Robert Bosch, CEWE, Daim­ler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more ven­ture Beteili­gungs GmbH & Co. KG, METRO, Qia­gen, RWE Innogy, SAP, Ten­gel­mann and Carl Zeiss. High-Tech Grün­der­fonds has about €576 mil­lion under man­age­ment in two funds (€272 mil­lion HTGF I, €304 mil­lion HTGF II).

About STIFT

Via the Thuringian Net­work for the For­ma­tion of Inno­v­a­tive Com­pa­nies (ThEx Inno­v­a­tiv), STIFT sup­ports newly estab­lished tech­nol­ogy-ori­ented and inno­v­a­tive com­pa­nies. Fur­ther­more, STIFT acts as side investor in the early-phase financ­ing of high-tech com­pa­nies. The concept’s degree of inno­va­tion and entre­pre­neur­ial poten­tial are decid­ing fac­tors for an invest­ment from STIFT, with­out any focus on spe­cific busi­ness areas. STIFT invest­ments focus on the region of Thuringia.

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