Fox Biosystems secures 4 million euros in capital with the Limburgse Investeringsmaatschappij LRM,the Gemma Frisius Fund and several biotech investors. Their innovative sensor technology, based on optical fibers, allows a cost-effective, user friendly and fast way of analyzing samples in the life science industry and the research market. The additional capital will be used for hiring extra people, growing internationally and optimizing processes. The Leuven start-up will move its headquarters to Bioville in Diepenbeek.
Fox Biosystems was founded in 2017 as a spin-off of the KU Leuven. The start-up aims to revolutionize the life science industry and research market using its real-time, label-free analysis technology. The FOx technology is based on innovative fiber-optic biosensor technology, which enables the users to generate high quality biomolecular data such as affinity data, kinetic data and concentration measurements. The innovative platform increases the efficiency of pharmaceutical drug research and development and allows flexible bioprocess monitoring.
Minimal sample preprocessing
‘The FOx biosensor technology has many advantages compared to existing biomolecular analysis instruments’, says Jeroen Lammertyn, co-founder and professor at KU Leuven. ‘The ease of use, speed, wide applicability, cost-effectiveness and the minimal time for sample preprocessing, even in complex media, are key assets of the technology.’ FOx Biosystems sells instruments, reagents and services to improve biomolecular interaction analysis in life science industry and research market.
The company now raises four million euros with LRM, the Gemma Frisius Fund and several biotech investors. With this extra resources the early stage biotech company wants to expand their team and take the next steps. ‘The company is still young, but we strongly belief in its growth potential. With this financial injection FOx Biosystems can move on the next phase: process optimization, increase sales and expand internationally’, says Katleen Vandersmissen, Head of Health & Care at LRM.