#Sweden #Stockholm #Pixelgen Technologies #EIC Accelerator #Proxiome Kit

Pixelgen Technologies Receives $14.7 Million in Funding

Pixelgen Technologies, an emerging leader in the field of biotechnology, has recently announced that it has secured a significant funding package amounting to EUR 12.5 million (approximately $14.7 million) from the European Innovation Council (EIC) Accelerator. This initiative is part of the European Union's Horizon Europe program, which is dedicated to supporting innovative start-ups that are developing disruptive technologies.

Purpose of Funding

The grant and equity financing will primarily be allocated to enhance the applications of Pixelgen's innovative Pixelgen Proxiome Kit. Launched earlier in the year, this kit represents a pioneering advancement in single-cell protein interactome analysis, allowing researchers to delve deeper into the complexities of cellular interactions and functionalities.

Simon Fredriksson, the co-founder and CEO of Pixelgen, expressed his enthusiasm regarding this funding opportunity, stating, “We’re thrilled to receive this highly competitive funding from the EIC. The process was rigorous, and the award further reinforces the value of Pixelgen’s technology.” This funding is expected to significantly accelerate the growth and expansion of the Proxiome Kit into new applications, including those associated with cell-to-cell interactions and other advanced tissue studies.

Recognition by the EIC

The European Innovation Council has selected Pixelgen among 40 innovative start-ups and small-to-medium enterprises out of a competitive pool of 150 applicants. The founders handpicked the recipients based on their groundbreaking technologies and their strong commercial potential, highlighting the transformative impact they aim to deliver in their respective fields.

Technological Impact

The Pixelgen Proxiome Kit stands out as a formidable tool for researchers, providing unprecedented resolution in single cell analyses through novel protein interactomics. It promises to generate valuable insights into various critical areas of research such as cancer, immunology, and cell therapy by facilitating high-capacity, nanoscale spatial analyses of immune cell proteins.

This innovative approach to studying cell behavior is bolstered by Pixelgen’s proprietary Proximity Network Assay technology, which has recently garnered attention in academic circles and was featured on BioRxiv. With this technology, researchers can gain insights into disease mechanisms and discover potential biomarkers that could propel advancements in drug development and precision medicine.

Backing and Future Aspirations

In addition to the financial backing from the EIC, Pixelgen is also supported by prominent investors, including Industrifonden, a significant Swedish venture capital fund, and Navigare Ventures. Founded in 2020, Pixelgen Technologies aims to revolutionize the understanding of cellular functions by uncovering the molecular foundations that govern cellular interactions using next-generation tools and technologies.

By leveraging the awarded funding, Pixelgen aspires to scale its operations and deepen its focus on advancing the fields of immunology, hematology, and cell therapy, ultimately contributing to improved healthcare outcomes. This funding marks a pivotal moment in the company’s journey as it seeks to push the boundaries of cellular analysis and deliver precision medicine solutions.

As the landscape of biotechnology continues to evolve, innovations like those being developed by Pixelgen will be essential for tackling the complex challenges in understanding and treating various diseases. With its exciting new offerings on the horizon, the future looks promising for this young and ambitious company.