iCellate Medical adds SEK 16M in capital investment from new and existing investors.
iCellate Medical, a Stockholm, Sweden-based medical company developing products in the field of cancer research and detection, announced securing SEK 16M ($1.8M) in capital investment.
The money comes from new (10M) and existing investors, including Albert & Anna Göransson Foundation and Stassi Anastassov. Funding will be used to demonstrate further clinical validation of the early detection of prostate cancer and clinical utility in personalized cancer medicine.
iCellate Medical, founded in 2011 and led by CEO Pelle Redare, was founded as a spin off from research performed at the Karolinska Institute medical research institute and medical university. The company has developed a proprietary technology to detect and analyze a new sample type, circulation tumor cells (CTCs). Cancer spreads from its origin in a primary tumor to distant parts of the body through CTCs that migrate into the lymphatic and blood circulation systems. By identifying and analyzing these CTCs while they are still spreading the disease, and before they have settled in distant organs, iCellate can help physicians detect and target cancer at an early stage.