GNA Biosolutions Secures $13.5M Series C Funding to Advance PCA-Based Point-of-Care Molecular Diagnostic Platform

On August 5, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that German molecular diagnostics company GNA Biosolutions announced the completion of a $13.5 million Series C financing round. The proceeds from this round will be used to advance the development of GNA Biosolutions’ first point-of-care molecular diagnostics platform and to obtain CE marking for its in vitro diagnostic (IVD) devices.

The investors in this round include existing shareholders SHS Gesellschaft für Beteiligungsmanagement, Robert Bosch Venture Capital, UVC Partners, Mey Capital Matrix, KfW, and Btov Partners, as well as new shareholders GreyBird Ventures, Occident Group, and Wachtumsfonds Bayern. Mr. Tom Miller, Partner at GreyBird Ventures, will assume the role of Chairman of the Board of Directors of GNA Biosolutions upon the closing of this financing round.

It is reported that GNA Biosolutions completed its Series A financing in March 2011, with the amount and investors undisclosed. In June 2015, it completed a $6 million Series B financing round.

GNA Biosolutions, founded on June 22, 2010, and headquartered in Bavaria, Germany, is a molecular diagnostics company. Leveraging its next-generation nucleic acid amplification technology—Pulse Controlled Amplification (PCA)—the company has developed a novel, efficient, and cost-effective molecular diagnostics platform. The PCA platform from GNA Biosolutions enables direct capture and amplification of nucleic acids from complex samples, such as whole blood, saliva, and nasal swabs, without requiring additional sample preparation steps. The entire process is completed within minutes, significantly reducing manual handling time.

Leveraging the scalability of the GNA technology platform, customers can independently develop cost-effective and user-friendly molecular diagnostic tests. The company’s prototype system already features 30 self-developed or co-developed assay panels, including those for hospital-acquired infections, tuberculosis, Ebola, and plague. PCA technology has not yet received approval from European regulatory authorities and is currently for research use only.

GNA is the recipient of the 2018 Disruptive Technology Award from the American Association for Clinical Chemistry (AACC). Additionally, GNA was selected as a Showcase Company in the 2019 MedTech Innovator Competition, a premier global contest in the healthcare industry.

Federico Buersgens, Co-founder and Managing Director of GNA Biosolutions, stated, “We are deeply grateful for the enthusiastic response from our new shareholders and appreciate the continued support from our existing shareholders. This Series C financing will help us advance product filings and bring our PCA technology into clinical development. We believe that this investment portfolio from Europe and the United States will provide GNA with significant advantages—the alliances we have built will not only bring extensive experience to GNA but also offer valuable insights and resources for our target markets.”

Tom Miller, Partner at GreyBird Ventures, stated, “We are delighted to collaborate with the GNA team and look forward to supporting the company’s growth at this stage. Rapid molecular diagnostics are key to patient recovery across a broad range of clinical treatment scenarios, particularly in the field of infectious diseases. We believe that PCA technology can overcome many limitations of existing molecular diagnostic techniques, empowering clinicians to make rapid treatment decisions and improve patient outcomes.”

GreyBird Ventures, founded in 2013 and headquartered in Concord, United States, is the first U.S. venture capital firm dedicated to investing in the precision medicine industry. GreyBird Ventures has assembled a team of eight operating advisors across North America, Europe, and Asia, who possess profound expertise and extensive operational experience.

Occident Group, established in 1993 and headquartered in Zug, Switzerland, is an international venture capital firm focused on investing in life sciences, digital technologies, and high-tech sectors that can improve people’s lives. The company’s mission is to manage wealth in a sustainable and meaningful way, making positive contributions to society through its investments.

Unternehmertum Venture Capital Partners (UVC Partners), founded in 2011 and headquartered in Munich, Germany, is an early-stage venture capital firm. The company is dedicated to investing in European tech startups in the fields of industrial technology, enterprise software, and mobile.

(Compiled by Cheng Tao)