Bioaxial, a developers of super-resolved fluorescence microscopy for the extended imaging of live cells, has completed a Euro 1.9 million (USD 2.7 million) equity investment by three new large investors; Amorcage Technologique Investissement (a fund managed by CEA Investissement), Inserm Transfert Initiative and Viveris Management plus a range of individual investors.
This capital, from specialized funds for seed investment in young startups will back the commercial launch of Bioaxial’s first product, an optical microscopy module, which is expected in the second half of 2014. Bioaxial is developing imaging instruments for fluorescence microscopy that allow extended imaging of live cells with an improved resolution so far unreachable in research laboratories. This innovative module not only allows observation of living cells in super-resolution over time without damaging them, but unlike its competitors, does not require complex manipulations. It has been tested at the Institut Pasteur for the last 12 months. The founders of Bioaxial are experts in the industrialization of innovation and have an international track record in the semiconductor and optics industries.
“The investment of funds in Bioaxial’s capital is a vote of confidence in the team and its technology. It is a strong signal for the targeted market segment. It brings us credibility and allows us to launch commercially,” said Louis Philippe Braitbart, CEO and co-founder of Bioaxial.
“Our technology revolutionizes optical microscopy in the life sciences market,” said Gabriel Sirat, CTO, co-founder and inventor of the technology. “We expect applications in many areas where improved resolution is essential to better understand the processes of live entities.”
“We enthusiastically support Bioaxial in the commercial launch of its first product. Their technological breakthrough delivers strong differentiation to its first range of instruments,” said Celia Hart, investment director at CEA Investissement. “The key gains are in terms of resolution, the ability to image live cells, ease of use and in cost. The management team also has extensive experience in the development of instruments all the way to the market.”
“This is our second investment in medical device instrumentation,” said Matthieu Coutet, managing director at Inserm Transfert Initiative. “We were very impressed by this ambitious project, which brings together an experienced team, a disruptive technology and clearly identified business opportunities.”
“I look forward to our entry into the capital of this young company whose innovative products have strong international market potential,” said Jerome Feraud, investment director at Viveris Management.
Bioaxial develops new technology for super-resolved fluorescence microscopy for extended imaging of live cells with a resolution of less than 100 nanometers. The optical modules manufactured by Bioaxial adapt as an add-on for commercial microscopes. Bioaxial has filed four patents and has acquired a fifth, all of which are held exclusively by the company.
CEA Investissement, a subsidiary of the CEA, is a specialist in seed investment for technology companies.
Inserm Transfert Initiative is the first seed investor in life sciences backed by a public entity. In 2012 it was funded with EUR 35.5 million, dedicated to funding the initiation of young innovative companies in the biomedical field. At its inception in 2005, Inserm Transfert Initiative brought together four equal players in financing startups in biotechnology: I
Viveris Management is a major player in capital investment. It manages funds invested in SMEs located in the French regions, overseas and around the Mediterranean. Since its inception in 2000, Viveris Management funded 250 companies with nearly EUR 650 million subscriptions across a broad range of investment vehicles including public funds (FCPI, FIP) as well as funds for qualified investors (FCPR with simplified procedure).