Noscendo closes series A financing and launches DISQVER® in Europe to significantly improve diagnosis of infectious diseases
Company enters next development phase with management expansion and implementation of a Strategic and Scientific Advisory Board
Duisburg, April 23, 2020– Noscendo GmbH, a diagnostics company dedicated to the identification and assessment of bloodstream-associated pathogens and other infections, today announced the commencement of operations in its own development and application laboratory as well as the closing of a financing round. Renowned new investors including Earlybird, Paua Ventures and the JIH Family Office joined the round while existing investors, such as Wieland Capital and High-Tech Gründerfonds, continued to invest.
“We are very excited about this financing round with the addition of such well-known investors and strong support from our current investors. We clearly see this as confirmation of the execution of our strategy and as a strong signal to enter into the next phase for our company”, said Dr. Philip Stevens, Managing Director of Noscendo.
The funds will be used for further business expansion with a focus on complementing the current management team consisting of Dr. Philip Stevens (CEO) and Dr. Peter Haug (CFO & Head of BD&L) with the addition of Dr. Silke Grumaz as Chief Scientific Officer (CSO) and Dr. Marcus Benz as Chief Operating Officer (COO). Both additions are key for the launch of DISQVER® into the European market which is accompanied by the start of operations of Noscendo’s own testing and development lab. The product launch follows the successful pilot of the DISQVER® platform in 2019 in 8 maximum-care clinics throughout Germany. Noscendo’s laboratory will ensure effective, fast and reliable sample analysis using next generation sequencing (NGS) and Noscendo’s proprietary bioinformatic software platform DISQVER®, which enables the reliable detection of more than 1,500 bacteria, DNA viruses, fungi and parasites in the patient’s bloodstream based on cell-free DNA (cfDNA). Such pathogens are responsible for many life-threatening conditions such as infections in the course of transplantations, major surgical interventions or sepsis where reliable and early detection is key for survival and appropriate treatment.
“With DISQVER®, Noscendo addresses a significant gap in the rapid, reliable and hypothesis-free diagnosis of infectious diseases, such as sepsis, a leading cause of death in the Western world. Noscendo will enable clinicians to deliver far better patient care, reducing patient mortality and severe side effects, and will reduce healthcare costs at the same time. We are very excited to support Noscendo in exploiting the full potential of its platform”, commented Rainer Christine, Partner at Earlybird, on behalf of all investors of this financing round.
In addition to the launch of DISQVER® into the European market Noscendo will establish a Strategic and Scientific Advisory Board consisting of world-class experts covering a variety of different research, development, regulatory as well as marketing aspects.