Rarity Bioscience Raises €2,5M in Seed Funding to Improve Cancer CareNovember 29, 2022
With the aim to improve cancer diagnostics, Rarity Bioscience has raised €2,5 million to expands operations and product development within precision diagnostics and liquid biopsy. The seed round was led by founders and joined by new investor, Navigare Ventures, owned by Wallenberg Investments AB.
The Rarity superRCA technology is a new method for mutation detection in liquid biopsies, published in Nature Communications earlier this year. The technology demonstrates superior sensitivity that enables early detection of cancer relapse. Compared to competing methods, the superRCA assays are analyzed using existing lab instruments, which reduces both the costs and adoption barriers for labs.
"I’m very pleased with what our team has achieved in just one year. This investment allows us to expand our offering and continue the development of liquid biopsy solutions towards democratizing mutation detection and improving cancer care. The funding process has been extremely smoot and well planned, thanks again to all the investors for the support and trust” said Linus Bosaeus, CEO Rarity Bioscience.
This investment round has come after a successful first year establishing the company and setting up operations for product development and research service testing. The round was led by the founding team and initial angel investors including UU Invest, but also welcomes new investor Navigare Ventures, a Stockholm based early-stage investor specialized in sciencedriven companies, and a fully owned subsidiary of Wallenberg Investments AB.
"The team behind Rarity have an exceptionally strong scientific and commercial track record. As investors focused on sciencebased companies, we find the combination of cutting-edge science with a commercial plan leveraging an already installed base of instrumentation very compelling.” said David Sonnek, CEO Navigare Ventures.
About Rarity Bioscience AB
Rarity Bioscience was founded in 2021 as a spin out from Uppsala University to further develop and commercialize the superRCA assay technology, based on a discovery by Dr Lei Chen, PhD in molecular biology and a member of Professor Ulf Landegrens team at the Department of Immunology, Genomics and Pathology. Rarity superRCA is an ultrasensitive multiplex assay for detecting rare nucleic acid sequences in biological samples like liquid biopsies. Enabling full potential of liquid biopsies and radically improving cancer diagnostics.
To learn more, go to raritybioscience.com.