Devyser raises 15 MSEK in funding

Devyser has raised 15MSEK ($1,8M) in funding to support the launch of new cancer diagnostic products in 2016. Funds were raised from current shareholders and a development loan from the Swedish regional development agency ALMI.

The first product scheduled for release allows complete sequencing of the BRCA1 and BRCA2 genes to help guide treatment of patients with breast and ovarian cancers carrying BRCA-mutations.

“NGS technology has the capacity to revolutionize genetic testing, but uptake has been hindered by labor-intensive and complex workflows up until now” says Ulf Klangby, CEO and co-founder of Devyser. “We are excited to introduce a pioneering NGS product suited for routine diagnostics. Fast to implement and easy to use, Devyser’s proprietary technology reduces the hands-on time from days to hours, allowing laboratories to significantly improve efficiency and cut costs.”

Other Devyser products scheduled for launch in 2016 include additional cancer diagnostic products and a genetic test for complete sequencing of the CFTR gene used in the diagnosis of Cystic Fibrosis.

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