Gene Predictis, a Swiss precision medicine company, announces the closing of its first financing round. The company has raised CHF 0.5 million from a strategic investor that is a major player in the Swiss health care ecosystem.
The proceeds will be used to support marketing and commercialization in Switzerland of its leading product, Pill Protect, as well as for the CE-IVD labelling of Pill Protectto assure its timely launch on the EU market.
Pill Protectis an innovative medical test that uses genetic data to identify women at risk of developing blood clots (thrombosis) when using contraceptive pills. The test was launched in Switzerland in mid-September 2015 and has received very promising initial market acceptance.
The closing of this initial investment follows the successful achievement of a series of milestones in 2015, including successful clinical validation study for Pill Protect, Pill Protectpatent filing and the launch of the product on the Swiss market. Gene Predictispursues an additional investment with a financial partner mainly to fund the launch of Pill Protectand Cypass, another strategic product, in markets outside of Switzerland.
Pill Protect is the first in class clinically validated genetic test to estimate the risk of thrombosis related to contraceptive. It identifies women at risk and facilitates the decision process for medical doctors to propose the most optimal and safest contraceptive pill/method for every woman. It was proven to identify women at risk of thrombosis with a precision over 8 times better than today’s standard of care, making Pill Protect the best available test. Pill Protect is reimbursed by the basic health insurance in Switzerland.
Cypass is a leading-edge genetic tool that evaluates overall risk of adverse drug events by taking into account both patient’s genetics and drug-drug interactions. It covers over 80% of drugs on the market and allows physicians to prescribe the most efficient and safest drug for each individual patient. The genetic test is accompanied by an easily actionable, proprietary software tool, Cypass‐PRO, through which the health professionals can manage Cypass test results and complex drug prescriptions (over 10 drugs at the same time).
About Gene Predictis
Gene Predictis is among the pioneers of precision medicine in Europe. The company develops and commercializes innovative diagnostic tools based on genetics that allow tailored treatments for patients. Precisely, the products enable to improve drug treatment efficacy and/or significantly reduce harmful side effects resulting from adverse drug reactions, thereby contributing to reduce costs for the health care system. The company was founded in 2004 and has been financed so far by founders’ assets and company’s sales. Gene Predictis has acquired significant experience in its field and developed a highly differentiated product portfolio in niche markets, with a cost--‐effective structure and its own laboratory facilities.
(Press release)
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