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

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.

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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.

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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).

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(Featured image by Belova59 via Pixabay)

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

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Anthony Donaghue writes about science and technology. Keeping abreast of the latest tech developments in various sectors, he has a keen interest on startups, especially inside and outside of Silicon Valley. From time to time, he also covers agritech and biotech, as well as consumer electronics, IT, AI, and fintech, among others. He has also written about IPOs, cannabis, and investing.