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FOx BIOSYSTEMS raises € 5.8 million in B-round financing to scale up its operations.

By January 13, 2023No Comments

Diepenbeek, Belgium, January 13th, 2023 – Fox BIOSYSTEMS announces today that they successfully closed on their funding round, raising €5.8M in new capital. Investors in this round are Heran Partners, LRM, The Gemma Frisius Fund, KU Leuven, and NetScientific.

FOX BIOSYSTEMS has developed an innovative Surface Plasmon Resonance (SPR) technology using optical sensors. Their product, the White FOx, combines a microfluidics- free dip-in protocol for fast and user friendly SPR sensing. The unique approach of the White FOx eliminates the risk of clogging and cross-contamination when using complex samples such as lysates, whole blood or large particles. The sensor probes are available with several generic surface chemistries and can be switched easily to allow the detection of different target molecules, including antibodies, nanobodies, microvesicles, phages and large particles, all with a single lab device.

A wide range of applications make the White FOx the ideal option for any life science or biopharmaceutical research lab. Kinetic affinity analysis, label free biomolecule quantification and fast specific and ultra-sensitive sandwich assays are all possible and uniquely facilitate analysis of complex unpurified samples.

The additional raised capital will be used to scale up the company’s operations, accelerate the development of new application areas, and to boost the commercialization of this unique system.

Thomas van Elzakker, CEO of FOx BIOSYSTEMS: “We are very happy with the strong support of our investors for our highly motivated team in realizing our vision for FOx BIOSYSTEMS. They are confidently investing in our fast commercial growth today, while also enabling us to deliver on our exciting innovation roadmap for tomorrow. The White FOx system offers a solution to many of today’s analysis challenges, and it will continue to be key in revealing new data and helping scientists to reach their goals more quickly.”

Katleen Vandersmissen, PhD, Chair of FOx BIOSYSTEMS and Managing Partner of HERAN Partners: “With HERAN we try to spot those technologies and teams that can make a difference and positive impact within the domain of Life Sciences. We believe that FOx, now strongly backed by this financing round and the recent EIC grant, is up for success based on their innovative take and ease of use on complex samples.”

About FOx Biosystems

FOx BIOSYSTEMS is a Belgian company with a mission to revolutionize the life sciences and pharmacological research market with innovative real-time, label-free analysis products. The basis of their success is a novel fiber-optic-based SPR biosensor which enables users to generate high-quality, cost-effective biomolecular data fast, and over a wide range of applications.

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Mr. Kris Ver Donck, VP Marketing & Applications

About Heran Partners

Heran Partners is a Belgian-based MedTech and Digital Health investment fund. The HERAN HealthTech Fund I focuses on European HealthTech, providing venture & growth capital accompanied by a strong network, expertise and mentorship to startups and scale- ups with an outstanding technology platform and market potential. We strive to have impact.

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About LRM

LRM is an investment company that develops and stimulates economic growth in Limburg. We provide a solid foundation, allowing companies and projects, which create jobs in Limburg, to grow. Our financial means and economic expertise, together with Limburg’s key assets, create a unique breeding ground.

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About Gemma Frisius Fund KU Leuven

Gemma Frisius Fund (GFF) is a seed capital fund, established in 1997 as a joint venture between KU Leuven, KBC Private Equity and BNP Paribas Fortis Private Equity. It combines the research and technology transfer expertise of the university with the financial and investment expertise of the two financial partners. GFF provides seed capital in the early development phases of innovative, research-based spin-off companies originating from all technology domains and provides support in their further growth process.

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About KU Leuven

KU Leuven supports researchers and students in transforming their innovative ideas and technologies into commercial products and services that impact people’s lives across the globe. One way to do this is by creating spin-off companies, such as FOx BIOSYSTEMS. Since 1972, 149 KU Leuven spin-offs were created, directly employing more than 7,000 people. In the period from 2005 to 2021, KU Leuven invested € 21.7 million in its spin-off companies, and € 1.46 billion of external capital was raised.

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About NetScientific plc

NetScientific plc (AIM: NSCI) is an investment and commercialisation group with an international portfolio of innovative life science, sustainability and technology companies. NetScientific identifies, invests in, and builds high growth companies in the UK and internationally. The company adds value through the proactive management of its portfolio, progressing to key value inflection points, and delivering investment returns through partial or full liquidity events.

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