Stockholm-based Pixelgen Technologies has been awarded $14.7 million (EUR 12.5 million) in blended grant and equity financing from the European Innovation Council (EIC) Accelerator. The funding will support the expansion of Pixelgen’s Proxiome Kit, a recently launched product for high-throughput analysis of protein interactions at the single-cell level. Pixelgen’s core technology, the Proximity Network Assay, enables nanoscale spatial mapping of cell surface proteins, with applications in immunology, cancer, and cell therapy research. The company plans to use the funds to adapt its platform for additional use cases, including cell-to-cell interaction analysis and formalin-fixed tissue samples.
Pixelgen Technologies is a biotechnology company focused on developing tools for high-resolution spatial analysis of proteins on the surface of single cells. Founded in 2020, the company has developed a proprietary method known as the Proximity Network Assay, which enables researchers to study protein interactions and spatial arrangements at the nanoscale. Pixelgen’s technology is designed for applications in fields such as immunology, oncology, and cell therapy research, with the aim of improving understanding of cellular function and disease mechanisms.
“We’re thrilled to receive this highly competitive funding from the EIC,” said Pixelgen co-founder and CEO Simon Fredriksson. “The process was rigorous, and the award further reinforces the value of Pixelgen’s technology to increase our understanding of complex cellular and functional cell surface arrangements, which we believe will advance drug development and deepen our understanding of precision medicine. The response from leading researchers in industry and academia to our Proxiome Kit has been very enthusiastic, and this grant will help accelerate its expansion into new applications, including cell-to-cell interactions, communication, and FFPE tissues.”
The EIC selected 40 innovative start-ups and small-to-medium-sized enterprises out of 150 applicants in its latest evaluation round to receive funding. The companies were chosen for their “transformative technologies and strong commercial promise,” according to the EIC.
The Pixelgen Proxiome Kit is the first in a new product line by Pixelgen offering researchers the highest resolution of single cell analyses by providing a new omics dimension (protein interactomics), for novel insights into disease mechanisms, drug response, biomarker discovery, and more, in cancer, hematology, immunology, and cell therapy research. It’s based on the company’s proprietary Proximity Network Assay, which delivers nanoscale spatial analysis of immune cell proteins at scale and was recently presented on BioRxiv.
Pixelgen is backed by leading investors, including Industrifonden, Sweden’s venture capital fund, and Navigare Ventures.
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Read the orginal article: https://arcticstartup.com/pixelgen-technologies-awarded-14-7-million/
