Flomics Biotech closes seed round of €1.000.000 to develop its multicancer screening solution - #BHHMembersInitiatives

BHH member Flomics Biotech, a biotech company dedicated to genomics and early screening and diagnosis of complex diseases, such as cancer, announces the closing of a €1.000.000 seed round of investment, led by an international family office. The funds will be used to fuel pre-clinical trials for 5 different types of cancer. Flomics Biotech, constituted in 2018, is based in the Barcelona Biomedical Research Park (PRBB) and created by researchers and entrepreneurs of the Center for Genomic Regulation (CRG) and the Pompeu Fabra University (UPF). Flomics is operating in the field of genomics, liquid biopsy and next-generation sequencing (NGS) and is dedicated to the early diagnosis of cancer, with the objective of developing a ground-breaking multi-cancer detection test from a standard blood sample, supported by sophisticated bioinformatics, AI and machine learning algorithms. The private financial round of €1.000.000, was led by an important US based Family Office, with an investment portfolio in biotech and technology, and complemented by several national and international business angels and by Arcano ImasD, the R&D investment vehicle managed by the financial firm Arcano Partners. This private financing round complements several public grants and subventions awarded to Flomics in 2021 surpassing €500.000 in non-diluted investment. Flomics counts with the support of CDTI and the Spanish Ministry of Science and Innovation, ACCIÓ from Generalitat de Catalunya and the European EIT Health Program. “This financial support and the capital raised in the round will allow us to extend our preclinical studies with larger cohorts in the detection of different types of cancer in collaboration with several hospitals, in particular for colon and lung, the two types of cancers that are in more advanced stages of development. We will also continue to explore other opportunities in the development of diagnosis, prognosis and stratification solutions of other complex diseases, such as the Covid-19,” says João Curado, CEO and co-founder of Flomics. Flomics' main product is a multi-purpose second-generation liquid biopsy that enables early detection of multiple complex diseases such as cancer from a standard blood sample. Currently the technology is undergoing pre-clinical validation in collaboration with key collaborators such as Hospital Clinic de Barcelona, the August Pi i Sunyer Biomedical Research Institute (IDIBAPS) and the Biobank of the Andalusian Public Health System. Flomics' objective is to enter the market with a screening kit for the detection of colon and lung cancer in 2024, with an updated version of 5-cancers in 2026. Aside from cancer research, Flomics has active collaborations in other projects with the Vall d’Hebron Research Institute, the Sant Joan de Deu Hospital and Pangaea Oncology. In addition to the development of solutions in oncology and other diseases, Flomics is already in the market, providing genomics services for different types of projects. These services include consulting in bioinformatics, in particular for the analysis of NGS sequencing data using the recently launched Flomics Stratus® cloud platform, available anywhere, anytime here.