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2B BlackBio S.L.. (10/25/11). "Press Release: BlackBio Gets more than 2 Million Euros after Capital Increase and Public Funding".

Region Region Madrid
  Country Spain (España)
Organisation Organisation 2B BlackBio S.L.
  Group BlackBio (Group)
Products Product DNA testing services
  Product 2 BlackLight® Sepsis kit
     


o BlackBio, a biotechnology company devoted to personalized medicine and diagnostics, has completed a third financial round achieving more than 2 million Euros from capital increase and public support. With this last funding, BlackBio has obtained more than 5 million euros during last two years.

o This resources will allow BlackBio to continue with their progress in development and validation of its proprietary "accelerated high-sensitivity microsequencing patent", with applications in diagnostics and personalized medicine, as well as with the launch of its new division of genetic testing services, which will operate under Genotest brand.

BlackBio, as beneficiary partner of Madrid Network, has recently obtained from this association a repayable loan for an amount of 1,9 million euros, awarded from funds received by ´Comunidad de Madrid´ and in turn from a cooperation agreement signed between it and the Spanish Ministry of Science and Innovation for the development of the innovation strategy in this autonomous community. This funding, together with the recently closed capital increase will enable the company to achieve its strategic objectives and to ensure its growth in the future.

These resources will allow BlackBio to continue with their progress in development and validation of its proprietary "accelerated high-sensitivity microsequencing patent" with applications in diagnostics and personalized medicine. Currently, BlackBio kits for rapid identification of bacteria and fungi clinically relevant (BlackLight ® Sepsis Kit and BlackLight® Fungal Id Kit) are under clinical validation, and in a development stage the kits forecasting effectiveness of pharmacological treatment of diabetes type 2, and of treatment for breast cancer with chemotherapy.

Also, part of the obtained funds will go for the launching of its new division of applied genetics ´Genotest´ in Spanish and International markets, offering a wide range of genetic analysis services in order to improve the overall health of people by implementing preventive and personalized medicine through individual genetics knowledge.

Founded in 2009, BlackBio is positioned as a leader in the fields of personalized medicine, medical diagnostics and pharmacogenomics by providing solutions through high-sensitive microsequencing, focusing its developments in the areas of metabolism, oncology, cardiovascular and microbiology. BlackBio, has started its activity in the Spanish market with a medium term objective to become a company with strong international presence and a solid product portfolio. By 2015, BlackBio estimates to reach annual sales of 20 million euros (75% in the international market).

   
Record changed: 2015-03-02

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