Software driven NGS-based diagnostics company Noscendo secures funding to revolutionize the diagnosis of infectious diseases

May 16, 2022 | press

Series B led by a renowned family office focused on life sciences, with impact-focused VC Revent as co-investor, plus support from existing investors
Further development of proprietary DISQVER® technology and international expansion

Duisburg, May 16, 2022 – Noscendo, a leading provider of software-driven diagnostic solutions based on NGS (next-generation sequencing) that change the way infection-causing microbes are identified and assessed, has closed its Series B funding round. The round is led by a major life-science focused family office, with Revent, a Berlin-based impact-focused VC fund, as co-investor. Existing investors, including Earlybird Health, Wieland Capital, Paua Ventures and High-Tech Gründerfonds significantly participated in the round. With the fresh capital, Noscendo will scale up its operations, invest in the further roll out of its CE-marked IVD (in-vitro diagnostic) software based DISQVER®-test, further expand its management team, and speed up the development of its product platform in a strive to release further products this year.

Using one test, Noscendo’s proprietary DISQVER® platform allows physicians to agnostically detect more than 1,500 different bloodstream-associated pathogens directly from patient samples within 24 hours and adapt treatment accordingly. Such pathogens are responsible for many life-threatening conditions such as infections related to transplantations, major surgical interventions, or sepsis. Here, reliable and early detection is key for survival and appropriate treatment.

“With DISQVER®, patients can be treated more quickly in a targeted manner and based on reliable information about the responsible pathogens. This is helpful to both doctors and patients,” said Dr. Philip Stevens, co-founder and CEO at Noscendo. “We are very pleased to have received funding from reputable new investors and continued strong support from our existing investors. We clearly see this as a validation of our clinical and commercial strategy and are determined to further develop our products and services as well as expand geographically,” he added.

“Right from the start we have been impressed by the proprietary Noscendo technology and how it helps physicians with identification of pathogens in even very difficult cases. The company has the potential to revolutionize the way people manage health and receive care – one of our investment thesis’ at Revent”, said Otto Birnbaum, Founding Partner at Revent. “The costs for sequencing, and therefore this diagnostics approach, will rapidly decrease in the coming years, allowing increased usage of Noscendo’s technology.”

“Earlybird remains a fully dedicated supporter of Noscendo. The company’s product platform combines significant patient benefit with strong health-economic incentives for healthcare providers and payors, thus aligning interests of key stakeholders. Noscendo is a prime example of using the power of data-driven biology to achieve considerable overall impact on healthcare,” added Rainer Christine, Partner at Earlybird Health, who co-led the company’s series A financing round.

About Revent

Revent is an early stage (pre-seed to series A) venture capital fund, headquartered in Berlin, investing across Europe in mission-driven founders using technology to drive systemic change across the main investment topics of Climate, Food-Tech, Health, and Economic Empowerment.

More information at: https://www.revent.vc

About Earlybird

Earlybird is a venture capital investor focused on European technology companies. Founded in 1997, Earlybird invests in all growth and development phases of a company and supports its portfolio companies with financial resources, strategic support, as well as access to an international network and capital markets. Earlybird invests out of a family of focused and independently-managed funds: Digital West (Western Europe), Digital East (Emerging Europe), Healthcare, UNI-X (University spinoffs), and Growth Opportunity. With EUR 2 billion under management, 8 IPOs, and 30 trade sales, Earlybird is one of Europe’s most established and active venture capital firms. To learn more, please visit: https://earlybird.com

About Noscendo GmbH

Noscendo GmbH develops bioinformatics solutions for the identification and evaluation of pathogens of bloodstream-associated and other infections. The proprietary diagnostic platform has been validated together with leading clinicians in Germany and is offered in the field of bloodstream-associated infections. Noscendo collaborates with leading clinicians, development partners, logistics service providers and innovation-oriented healthcare providers and reimbursers.

About DISQVER

DISQVER is a molecular diagnostic pathogen test that uses next-generation sequencing (NGS) and proprietary bioinformatic evaluation algorithms from Noscendo GmbH to reliably detect a total of more than 1,500 bacteria, DNA viruses, fungi and parasites using cell-free DNA (cfDNA) in patients’ bloodstreams.