Barcelona based Flomics Biotech closes seed round of €1.000.000 to develop its multicancer screening solution
The funds will be used to fuel pre-clinical trials for 5 different types of cancer
Flomics Biotech, a biotech company dedicated to genomics and early screening and diagnosis of complex diseases, such as cancer, announces the closing of a €1.000.000 seed round of investment, led by an international family office. The funds will be used to fuel pre-clinical trials for 5 different types of cancer.
Flomics Biotech, constituted in 2018, is based in the Barcelona Biomedical Research Park (PRBB) and created by researchers and entrepreneurs of the Center for Genomic Regulation (CRG) and the Pompeu Fabra University (UPF). Flomics is operating in the field of genomics, liquid biopsy and next-generation sequencing (NGS) and is dedicated to the early diagnosis of cancer, with the objective of developing a ground-breaking multi-cancer detection test from a standard blood sample, supported by sophisticated bioinformatics, AI and machine learning algorithms.
The private financial round of €1.000.000, was led by an important US based Family Office, with an investment portfolio in biotech and technology, and complemented by several national and international business angels and by Arcano ImasD, the R&D investment vehicle managed by the financial firm Arcano Partners. This private financing round complements several public grants and subventions awarded to Flomics in 2021 surpassing €500.000 in non-diluted investment. Flomics counts with the support of CDTI and the Spanish Ministry of Science and Innovation, ACCIÓ from Generalitat de Catalunya and the European EIT Health Program.