Existing and new investors have contributed to Positrigo’s series B financing round to enable the company to finalise market approvals in Europe and the US of its first product and to start commercialisation. The startup is developing nuclear medical imaging devices to advance functional imaging.
Headquartered in Zurich, Positrigo is a medical device company founded in 2018 as a spin-off of ETH Zurich, pioneering nuclear medical imaging technologies. It has developed the NeuroLF system, an ultra-compact and dedicated brain positron emission tomography (PET) system. Positron emission tomography is a functional imaging technique that uses positron-emitting radiopharmaceuticals to visualise and quantify various biochemical processes. It is the diagnostic gold standard for evaluating the load of brain amyloid, neurofibrillary tau tangles and glucose hypometabolism. These aid in the diagnosis of Alzheimer´s disease and dementia. The imaging technique is also applicable in neuro-oncology, epilepsy, movement disorders and other applications.
Currently, the available PET scanners are large and expensive, which limits the broader diffusion of PET technology. Positrigo’s NeuroLF system aims to overcome these barriers as the device is much smaller and less costly than full-body scanners.
“It is our mission to make functional imaging accessible for people worldwide and create lasting social impact. With some exciting developments lately towards the identification of disease-modifying therapies for patients with Alzheimer´s, we feel now more than ever that our technology is a key component in the future diagnostic pathway of brain-related disorders,” said Max Ahnen, co-founder and COO of Positrigo.
After closing its series B round, Positrigo is now set to bring the NeuroLF system to the market. Parallel to applying for market approvals in Europe and the US, the company will also set up the required structure and resources to facilitate the commercialisation of its first product.
Fairway Asset Management led Positrigo’s series B financing round, supported by existing investors including 4FO Venture Partners, the EIC Fund, Zürcher Kantonalbank, and ETH Foundation. The raised amount brings Positrigo’s total funding raised to date to over CHF 13 million of dilutive and non-dilutive funding. The capital will enable the startup
“This round of funding allows us to obtain market approvals with our NeuroLF system with the CE-mark in Europe and with FDA clearance in the US,” states Jannis Fischer, co-founder and CEO of Positrigo. “In parallel, we are preparing for a successful product launch by developing the required commercial and after-sales resources.”
Alex Vamvakas of Fairway Asset Management, Series B Lead, added: “It is clear that neurological diseases are rising worldwide, and mass screening is the only way to ensure early diagnosis. We have been very impressed by Positrigo’s team, and we are excited to support them as they scale their brain PET system.”
(Press release/RAN)
Picture: Positrigo
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