Diagnoplex SA, a developer of molecular diagnostics for colon cancer and Debiopharm Diagnostics SA, part of the Swiss-based global biopharmaceutical group of companies Debiopharm Group™, with a focus on the development of prescription drugs that target unmet medical needs, including oncology and companion diagnostics, today announced that Diagnoplex has secured 1.3 million Swiss francs from a financing round led by Debiopharm. Other investors include Neomed and Initiative Capital Romandie.
The funds will be used to help Diagnoplex obtain CE marking (European Conformity) for Colox, a non-invasive blood-based test for the early detection of colon cancer. The company also wishes to prepare a comparative clinical trial with the screening test that should allow for patient reimbursement.
Early detection of colon cancer and subsequent intervention by colonoscopy will have an important impact on the prevention of this cancer that has a high mortality rate. Indeed, it has been demonstrated that survival rates improve up to 90% when colorectal cancer is detected early. Colorectal cancer is the third most common cancer in men (663 000 cases, 10.0% of the total) and the second in women (571 000 cases, 9.4% of the total) worldwide.
"We are very pleased to announce the renewal commitment of Debiopharm, who led this round. This financing will allow Diagnoplex to continue its development and to progressing in establishing a collaboration for the commercialization of its diagnostic test," commented Stavros Therianos, Ph.D., Chief Executive Officer and founder of Diagnoplex.
"The early screening of colon cancer is key. It is tomorrow's personalized medicine. We are proud to contribute to the progress of such an entrepreneurial and innovative company such as Diagnoplex," said Thierry Mauvernay, Delegate of the Board of Debiopharm Group.
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