Bioaxial has announced the completion of a €1.9 million (US$2.7 million) equity investment by three large investors; Amorcage Technologique Investissement, Inserm Transfert Initiative and Viveris Management, in addition to a range of individual investors.
This capital, from specialised funds for seed investment in young startups will back the commercial launch of Bioaxial’s first product, an optical microscopy module, which is expected in the second half of 2014. Bioaxial is developing imaging instruments for fluorescence microscopy that allow extended imaging of live cells with an improved resolution so far unreachable in research laboratories. It has been tested at the Institut Pasteur in France for the last 12 months.
‘The investment of funds in Bioaxial’s capital is a vote of confidence in the team and its technology. It is a strong signal for the targeted market segment. It brings us credibility and allows us to launch commercially,’ said Louis Philippe Braitbart, CEO and co-founder of Bioaxial.
Gabriel Sirat, CTO at Bioaxial and co-founder and inventor of the technology, added. ‘We expect applications in many areas where improved resolution is essential to better understand the processes of live entities.’
‘I look forward to our entry into the capital of this young company whose innovative products have strong international market potential,’ said Jerome Feraud, investment director at Viveris Management.