Biocross Raises $1M from Cdti and Inverbio to Advance in In-Vitro Diagnostics

Biocross is being sought after by investors. The Spanish biotech company, specialized in in-vitro diagnostic systems, has received one million euros in public and private aid to commercialize its products.

The Valladolid-based company has received more than $472,000 (€400,000) from the Center for the Development of Industrial Technology (Cdti), through its Innvierte program. Cross Road Biotech (CRB) Inverbio has also invested $590,000 (€500,000) in the company.

CRB Inverbio invests in biotechnology projects in the human health sector. It is currently backing biotechs that have developed innovative, non-invasive products that diagnose or predict highly prevalent disorders and diseases. These products have already overcome the technological and regulatory risk, are CE marked, and are being marketed.

With the funding received, the Spanish biotech seeks to finalize the validation process of its in vitro diagnostic tests and launch them commercially in Europe and the United States.

Read more about the biotech company Biocross and find the latest business news in the world with the Born2Invest mobile app.

Biocross seeks to finalize the validation process of its tests and launch them commercially in Europe and the United States

Biocross, founded in 2005 as a spin-off of the Spanish National Research Council (CSIC), develops in-vitro diagnostic systems with multiple applications in prevention, clinical research, early diagnosis, and management of patients with diseases of great economic and social impact such as Alzheimer’s disease, cardiovascular diseases or Covid-19.

The biotech’s diagnostic tests are based on the presence of biomarkers in blood, which are identified as a risk factor for the development of Alzheimer’s disease and cardiovascular diseases, as well as increased severity of the disease caused by Sars-Cov-2. These systems enable early, reliable, non-invasive, rapid, and simple diagnosis, with application in the hospital setting.

Biocross is developing a series of blood tests for the diagnosis of Alzheimer’s disease, with the aim of providing neurologists with an integrated diagnostic solution that can be applied at any stage of the disease, including the earliest asymptomatic phase. The company’s activity is focused on research, development, and innovation (R&D&I). It is positioned as a developer of diagnostic systems for neurodegenerative diseases to be commercialized by a strategic partner in the in vitro diagnostics or pharmaceutical sector.

The company is led by Matt Mittino, its CEO, who for years was the managing director of Abbott Spain and holds a degree in Mechanical Engineering from the University of Notre Dame (USA).

In 2019, the Galician Health Service (Sergas) awarded Biocross the contract for the purchase of technological innovation for the development of research and development (R&D) services for early diagnosis in patients with neurology-related pathologies for $263,000 (€223,000).

__

(Featured image by Belova59 via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.