AyoxxA Biosystems Closes Series A Financing Round

AyoxxA Biosystems Closes Series A Financing Round PR Newswire COLOGNE, Germany, and SINGAPORE, September 20, 2012 COLOGNE, Germany, and SINGAPORE, September 20, 2012 /PRNewswire/ -- 2.6 million Euro financing will accelerate development of cutting-edge technology for protein analysis AyoxxA Biosystems, an international biotechnology company, today announces it has closed a 2.6 million Euro Series A financing round. The round was led by Wellington Partners Venture Capital and included NRW.BANK, HTGF - High-Tech- Gründerfonds, and private investors, Rainer Christine and Dr. Gregor Siebenkotten, both formerly executive board members and co-founders of amaxa biosystems. The funds raised will be used to drive the further development of AyoxxA's proprietary platform technology and the scale- up of production of its novel bead-based biochips as the company moves towards commercialization. AyoxxA's technology is aimed at transforming the throughput and accuracy of protein analysis to deliver the analytical power now seen only for DNA arrays. The platform is based around proprietary In-situ Encoded Bead-based Arrays (IEBA) which allow the simultaneous measurement of multiple proteins from minute samples. Unlike current bead-based microarrays, AyoxxA's IEBA need no physical label to allow multiplex analysis and thus hugely reduce the complexity of downstream analysis while increasing the number of individual proteins that can be analysed at the same time.