Magnosco closes seven-figure capital raise for fight against skin cancer
Magnosco, the MedTech enterprise for innovative cancer diagnostics announces their successful conclusion of a round of financing. Corecam Capital Partners is the lead investor once again. SPRIM Ventures participates in this round for the first time in the Berlin startup. The raised sum of euros in the seven-digit range is supposed to optimize and extend the product portfolio as well as systematically prepare US market access.
Magnosco is developing innovative, patented and high-precision methods for the detection of malignant melanomas in an early stage, the so-called dermatofluoroscopy. The diagnosis is based on infrared laser technology and artificial intelligence. The developed medical device DermaFC is made for physicians and is currently used in clinical studies to further refine its technology.
The earlier skin cancer is detected, the higher the chances of recovery. Here, time saves people's lives. Magnosco would like to extend its early-detection technology to additional skin cancer types and bring it into new markets. To this end, the capital and know-how of the internationally linked investors are now laying the foundations.
Kai-Christian Brockstedt, managing shareholder of Corecam Capital Partners, says: "We are happy to be the leading investor in Magnosco. As we are convinced that the current and future medical, diagnostic and cosmetic applications of such a fundamental, data rich technology platform will be numerous"
With the new funds raised, a miniature DermaFC device is supposed to be developed and its application extended to other types of skin cancer. For the planned US market entry, the new investor SPRIM Ventures will contribute its expertise concerning market, sales strategy and FDA marketing authorization. In this regard, Magnosco will closely cooperate with Sven Henrichwark who has a lot of experience in the fields of biotech, life sciences und medical technology industries, for example, as a COO of a $1 billion GE Healthcare business unit. Henrichwark said: "We are very excited about Magnosco and its significant potential. Their device currently identifies melanoma with a very high degree of accuracy. It addresses a major unmet medical need of a deadly and expensive disease and can significantly improve the current standard of care.”
After having successfully reached this milestone, Inga Bergen will now leave the operative execute board to become a member of the advisory board and support management on strategic issues. Both management and team thank Inga for an exciting, productive time and for her great personal commitment. We are happy to know that she is still on board.
onkoderm science prize awarded at DERM 2019
For the second time the nationwide dermatologist network onkoderm e.V. honoured innovative scientific and therapeutic concepts, which can improve success of treatment. As winner of the onkoderm science award 2019, the first chairman of the network, Prof. Dr. Uwe Reinhold, congratulated physicist Dr. rer. nat. Łukasz Szyc on onkoderm science award for outstanding scientific achievements in the field of dermatology. With his developed algorithm as the basis of dermatofluoroscopy, a new diagnostic method for the early detection of malignant melanomas, Dr. Szyc has made a very important scientific contribution to early and accurate diagnostics.
(Photo from left: Prof. Dr. Hjalmar Kurzen - Vice Chairman of the onkoderm network, Dr. rer. nat. Łukasz Szyc - Head of Science Magnosco & Thomas Diepold - Managing Director Magnosco)