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.
Filip Delport, co-founder and former doctor-engineer at KU Leuven in de group of prof. Lammertyn, was appointed by the shareholders as Chief Executive Officer. The headquarters of FOx Biosystems will move to Bioville, the bio-incubator in Diepenbeek, from where further development of the technology will happen in close collaboration with the KU Leuven and other partners.
LRM is an investment company that develops and stimulates economic growth in Limburg. We provide a solid foundation, allowing companies and projects, which create jobs in Limburg, to grow. Our financial means and economic expertise, together with Limburg’s key assets, create a unique breeding ground. Goele Lemmens, responsible press office LRM, firstname.lastname@example.org, 0474 21 30 87
About Gemma Frisius Fund KU Leuven
Gemma Frisius Fund is a seed capital fund, which was established in 1997 as a joint venture between KU Leuven, KBC Bank and BNP Paribas Group. The objective of the fund is to stimulate the creation and growth of KU Leuven spin-off companies by providing them with seed capital in the very early phases of their development. The Gemma Frisius Fund combines the research and technology transfer expertise of the university with the financial and investment expertise of the two banks.
More information: http://lrd.kuleuven.be/en/spinoff/gemma-frisius-fund.
About KU Leuven
KU Leuven is one of the oldest and most renowned universities in Europe. With a research budget of over 466 million euro and an academic staff of more than 7,000 researchers, KU Leuven pursues high-quality, innovative, interdisciplinary research. In 2016, 2017 and 2018, KU Leuven was ranked as Europe’s most innovative university, based on its research output and influential inventions.
More information: www.kuleuven.be/lrd