Wellington Partners Venture Capital, a venture capital firm that invests in technology and life sciences companies, has led a €2.6m ($3.4m) Series A round into biotechnology company Ayoxxa Biosystems. There was also involvement from German commercial and investment bank NRW.BANK, High-Tech Gründerfonds, Germany’s state venture fund which has backing from multiple corporates, and private investors Rainer Christine and Gregor Siebenkotten, both formerly executive board members and co-founders of commercial gene transfer technology company Amaxa Biosystems.
Ayoxxa will use the funds to develop its proprietary platform technology and increase the production of its bead-based biochips.
Andreas Schmidt, chief executive of Ayoxxa, said: “This fundraising provides Ayoxxa with the resources to significantly accelerate the scale-up of production of our unique bead-based biochips and, through the expansion of our base in Cologne, prepare to bring our technology to market. We believe our technology can revolutionise protein analysis and with our growing presence in Europe combined with our continued access to the world-class science in Singapore we are uniquely positioned to deliver on that promise.”
Ayoxxa was founded as a spin-off of the National University of Singapore (NUS).