Pixelgen Technologies has announced that it has been awarded EUR 12.5 million ($14.7 million) in grant and equity financing from the European Innovation Council (EIC) Accelerator. This initiative (under the European Union’s Horizon Europe program) looks to support innovative start-ups with disruptive technologies.
In its recent evaluation round, the EIC selected 40 innovative start-ups and small to medium-sized enterprises from 150 applicants to receive funding. The chosen companies were recognized for their “transformative technologies and strong commercial promise,” according to the EIC.
How the funding will be used: Pixelgen will utilize this funding to enhance the applications of its Pixelgen Proxiome Kit, launched earlier this year as the first kit and software for high-capacity protein interactome analysis of single cells.
The Pixelgen Proxiome Kit is the inaugural product in a new line by Pixelgen, offering researchers the highest resolution of single-cell analyses by providing a new omics dimension (protein interactomics). This technology allows for novel insights into disease mechanisms, drug response, biomarker discovery, and more within cancer, hematology, immunology, and cell therapy research. The kit is based on the company’s proprietary Proximity Network Assay, which delivers nanoscale spatial analysis of immune cell proteins at scale and was recently featured on BioRxiv.
KEY QUOTE:
“We’re thrilled to receive this highly competitive funding from the EIC. The process was rigorous, and the award further reinforces the value of Pixelgen’s technology to increase our understanding of complex cellular and functional cell surface arrangements, which we believe will advance drug development and deepen our understanding of precision medicine. The response from leading researchers in industry and academia to our Proxiome Kit has been very enthusiastic, and this grant will help accelerate its expansion into new applications, including cell-to-cell interactions, communication, and FFPE tissues.”
Pixelgen co-founder and CEO Simon Fredriksson
