Abionic Successfully Raises CHF20 Million in Series C Financing

 Abionic AB, a developer of disruptive nanotechnology based rapid diagnostic solutions, announced today the successful closing of a CHF20 million Series C financing. The round was led by Pierangelo Bottinelli, Chairman of Symphony International Holdings Limited, and included Philippe Glatz (Chairman of two private hospitals), Peter Brabeck-Letmathe (former CEO and Chairman of Nestlé), Arkady Volozh (Co-Founder and CEO of Yandex), Jean-Bernard and Nelson Dumas (Owners of Dumas Construction), Investiere AG and Zürcher Kantonalbank.

The proceeds will be used primarily to extend Abionic’s portfolio of Point-of-Care IVD tests for critical care and emergency medicine. Delivering on this strategy, Abionic is about to launch a multinational sepsis impact study of it’s Pancreatic Stone Protein (PSP) test for sepsis risk assessment and management, the only device worldwide that provides results showing an indication of sepsis within 5 minutes.

"This financing will enable us to demonstrate the outstanding clinical value of our life-saving 5-minute sepsis test in the hospital intensive care setting," said Dr. Nicolas Durand, CEO of Abionic. "We would like to welcome all of our new and current investors and thank them for sharing our entrepreneurial vision. They help us shape the future of diagnostics."

Starting in April 2018, the international sepsis impact study will evaluate the efficacy of the PSP test to help clinicians to identify sepsis earlier and better manage patients at risk of sepsis and septic shock in over 300 patients in 14 ICU sites in Switzerland, Italy, France and the UK. Abionic believes the PSP test could be used in emergency departments for risk stratification and help in the decision to start antibiotic treatment.

"Abionic’s PSP test has the potential to provide earlier detection of septic patients than with currently available technologies. Therefore, this real-time diagnosis tool is essential for us, as doctors, to start antibiotic treatment and sepsis resuscitation to improve patient outcome. In sepsis, the earlier remains the best!" stated Prof. Dr. Bruno François, Head of the ICU at the University Hospital of Limoges (France) and Principal Investigator of the study.

About Abionic

Abionic has developed and commercialized the abioSCOPE, a rapid diagnostic platform used in clinical laboratories and at the point-of-care to improve medical diagnosis. This revolutionary, nanotechnology based test system provides healthcare professionals with tools that help them to make a diagnosis from a single drop of patient’s blood. The first abioSCOPE applications are rapid tests for allergies, iron deficiency diseases and sepsis. Abionic already commercializes a test measuring the main European respiratory allergens and total IgE, and one used to detect iron deficiencies. Recently, Abionic obtained registration of its first rapid allergy tests in the United States by the Food and Drug Administration (FDA). The company is continuously developing additional rapid tests, e.g. for allergy, asthma and thrombosis.

Founded in 2010, Abionic developed its nanotechnology within the Swiss Federal Institute of Technology in Lausanne (EPFL), and is now based at the Biopôle of Lausanne, a life sciences community bringing together industry and academia.

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