Pixelgen Technologies has closed an oversubscribed $15.5 million Series B financing to accelerate global commercialization of its Proxiome Kit and expand the company’s presence in key markets. Flat Capital led the round, with existing investors Industrifonden and Navigare Ventures also participating.
Pixelgen plans to use the financing to expand its commercial reach, grow its team and product portfolio, and further develop its data analysis and visualization software.
The Stockholm-based company has developed a high-throughput platform for mapping molecular cell architecture at nanoscale resolution.
Its Proxiome Kit is designed to show how proteins are organized, clustered and localized on individual cell surfaces. This differs from conventional proteomic approaches that primarily measure how much of a particular protein is present.
Powered by Pixelgen’s Proximity Network Assay, the platform is intended to help researchers identify architectural characteristics associated with cell state, disease and treatment response.
Pixelgen sees potential applications across cancer, immunology, autoimmune disease, hematology and cell therapy research.
Alongside the financing, Flat Capital CEO Rickard El Tarzi and life sciences technology entrepreneur Ramon Felciano are joining Pixelgen’s board.
El Tarzi previously served as Chief Strategy and Product Officer at Olink Proteomics, where he helped lead the company through its IPO and eventual acquisition.
Felciano founded Ingenuity Systems, an AI-driven genome interpretation and precision medicine company acquired by QIAGEN for $105 million in 2013. He later served as QIAGEN’s CTO and Vice President of Data Strategy and founded QIAGEN Digital Insights.
Pixelgen was founded in 2020.
KEY QUOTES:
“This financing gives us the resources to expand globally as demand grows for our Proxiome Kit and our data analysis and visualization software. We’re proud to have Flat Capital join us and to have the continued confidence of Navigare and Industrifonden. Their support will help accelerate our commercial reach, grow our team and product portfolio, and bring molecular cell architecture to more researchers and new applications.”
“Rickard and Ramon bring highly complementary experience to Pixelgen at an important stage in our growth. Rickard understands what it takes to scale and commercialize life sciences research platforms globally, while Ramon has built AI and data businesses with products that have been adopted by biotech R&D, a key sector for us moving forward.”
Simon Fredriksson, PhD, Co-Founder And CEO Of Pixelgen Technologies
“Pixelgen’s technology gives researchers the ability to study disease mechanisms and identify novel biomarkers in an entirely new way. We believe this could open new avenues for research in cancer, immunology and autoimmune disease, while broadening our understanding of basic biology. Pixelgen’s leadership team has successfully commercialized multiple life sciences products globally, and we look forward to supporting the company through its next phase of growth.”
Rickard El Tarzi, CEO Of Flat Capital
