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August 08, 2006
Swedish Skin Cancer Scanner Finds VC
We posted this week about Andy Kessler's new book that may popularize investments in diagnostic and early detection of disease, we think it is a category worth watching and are adding it to our daily news trawling and tracking.
(It does not mean we are now following biotech or pharma innovations too. Rather we've just added a new category called Disease and Clinical Diagnostics.)
The first one in this new category is SciBase which developed a handy device for the early discovery of skin cancer, and has just raised 100 Swedish Kronor, about €10.9M from several big name Nordic funds, namely Investor, SEB and CapMan invest.
The startup said its tech can discover skin cancer in minutes with a high degree of accuracy, and it is non-invasive. It means that cutting out a piece of skin and sending it to a lab and waiting for the results is not necessary.
The firm bundles an impedance spectrometer (a device that emits and measure light signals as they interact with a surface or material), together with data collection software, and a probe with microscopic spikes on the end.
The spikey bit is a "disposable", which is a key part of its business model. In the diagnostics market, disposables mean recurring revenues for whoever is marketing such devices.
The market launch is planned for 2007-2008. Among the potential customers are hospitals as well as individual clinics.
The VCs now own 80 percent of the Swedish company.
Read - Scibase Raises SEK 100M (scibase)
Read - Ex-hedgie Sees Money In Tech Disease Diagnostics (alarm:clock euro)
Posted on August 8, 2006 06:01 AM | Posted to Disease/Clinical Diagnostics | News And Updates | Permalink
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