Eindhoven, The Netherlands-based InnoSIGN, a manufacturer of precision medicine for diagnostic and drug development applications, announced that it raised $8M (approximately €7.33M) in its Series A round of funding.
The investment came from Casdin Capital, Life Science Angels, Thuja Capital, and Brabant Development Agency.
InnoSIGN says that the funds will help the company spin-out from Royal Philips to form a standalone company centred upon the OncoSIGNal pathway activity profiling technology.
Philips will own a minority stake in the new company. Henk van Houten, CTO and Head of Research at Philips, says, “InnoSIGN, as a stand-alone company, will be able to accelerate the development of OncoSIGNal tests which have the potential to make oncology diagnostics more efficient and precise, leading to better health outcomes.”