HiloProbe has attracted new investment capital after developing a diagnostic and prognostic product for colon and rectal cancer.
HiloProbe has developed a product called ColoNode that is used for the diagnosis and prognosis of colon and rectal cancer by identifying tumor cells in lymph nodes and measuring their aggressiveness. This analysis is performed following surgery and the information it provides, in combination with other test results, can indicate if the patient requires further treatment or whether surgery alone has been curative. The analysis is more accurate than current routine methods, states the company in its press release.
The company had already received capital investment from Partnerinvest Norr and Northern Light Capital, together with a number of private investors. Now, after reaching agreed milestones, the same investors are contributing millions more in finance.
“It feels fantastic that our investors believe in the company and our product. This capital is crucial for our product to reach patients in the future and to be used in hospitals,” says Lina Olsson, CEO of HiloProbe.
First market-ready product
HiloProbe has now developed its first market-ready product that will be sold to cancer researchers.
The new capital will be used to launch the product and guarantee the completion of an ongoing clinical study that is needed for a CE marking of the product. The CE marking is planned for completion next year.
Photo of the HiloProbe team: Marie-Louise Hammarström, Sten Hammarström, Anne Israelsson, Gudrun Lindmark, Harald Hedman, Lina Olsson, and Linn Heikkilä. Photographer: Patrick Trädgårdh