The funding round was led by Voima Ventures, with co-leadership from existing investor Eir Ventures, bringing the total raised by the company to EUR 3.45 million EUR.
This funding will bolster the ongoing development of ArgusEye’s sensor platform, Auga, aimed at accelerating the bioprocessing workflow from early upstream to late formulation stages.
Lene Gerlach, Partner at Eir Ventures, emphasized their pride in supporting ArgusEye’s journey and their excitement about the company’s contribution to revolutionizing bioprocessing through innovative sensor technologies, ultimately making medicines more accessible with a reduced ecological footprint.
Localized surface plasmon resonance technology
Established in Linköping in 2017 by Erik Martinsson and Daniel Aili, ArgusEye has been at the forefront of developing novel sensors for real-time monitoring and analysis of biological systems and processes. The company’s localized surface plasmon resonance (LSPR) technology, which utilizes gold nanoparticles for precise protein measurements, has its roots in a partnership formed at Linköping University, with over 15 years of research backing it.
ArgusEye’s AugaOne, introduced in March 2024, represents the first product in the Auga platform. It is tailored for downstream processing, promising increased process efficiency and accelerated detection and quantification of monoclonal antibodies (mAbs). The recent investment will empower ArgusEye to expand the Auga platform’s capabilities, extending support to upstream bioprocessing and formulation of diverse target molecules, thereby transforming biotherapeutic development and production, it states.
Cutting-edge solutions that meet the evolving needs of the biopharmaceutical industry while enabling a more sustainable and democratic reach of biomedicines.”
Erik Martinsson, CEO at ArgusEye, emphasizes the expansion of their market footprint and the diversification of their product offerings to cover the entire pharmaceutical process chain, from upstream cell growth to downstream purification and late-stage formulation, as well as GMP production. “This strategic direction aligns with ArgusEye’s commitment to delivering cutting-edge solutions that meet the evolving needs of the biopharmaceutical industry while enabling a more sustainable and democratic reach of biomedicines,” he says.
Photo of the ArgusEye core team; Erik Martinsson, CEO, Nathalie Elsässer, COO, Motasam Majedy, Product Developer, Thuy Tran, Senior R&D lab engineer
