Almi Invest is investing SEK 2.5 million in the biotechnology company Kromnigon, which is developing new methods for multi-staining of cells and tissues, which is of great importance in research and cancer treatment. The West Coast Business Angels also participate in the issue of a total of just over SEK 5 million. The money will be used for product development, sales and to establish the organization.
Antibody-based staining of cells and tissues (immunostaining) is a common method in research, drug development and healthcare, and an important piece of the puzzle in the development of immunotherapy, precision medicine and diagnostics. Immunostaining allows researchers to label certain cells/proteins of interest. Examples of uses are to distinguish cancer cells from healthy cells in a tumor sample, or to ensure that the correct protein has been identified in research. Tissue staining is also used in cancer care, where it enables an individual and targeted treatment, which can be tailored to each patient to give the best effect.
Gothenburg-based Kromnigon has developed a patented system for multi-staining of cells and tissues, which provides a simpler and faster staining process. With Kromnigon’s product FlexiStain, it is possible to stain different cells in different colors in a single common staining step, instead of doing several color steps sequentially, which is done with current technology. This saves a lot of time. FlexiStain is also more flexible, as the customer chooses which antibody is stained with which color, and even very small quantities can be labeled.
The technology to label cells with antibodies is already used in research, in drug development and in clinical practice, all major and growing areas in Life science.
“New technological advances in tissue staining in combination with strong scientific and clinical advances in immunotherapy in drug development have led to a positive spiral where both areas are pushing each other forward“, says Louise Warme, Investment Manager at Almi Invest. “Kromnigon’s new technology and broad product portfolio solve a known need and are well positioned in a rapidly expanding market.“
Kromnigon has four different products in cell staining on the market, and more are in the pipeline.
“Thanks to this investment, we can take the next step in our expansion and start developing additional products in our portfolio“, says Per Fogelstrand, CEO of Kromnigon.