Singapore/ Essen, October 2019 – German industrial services specialist, Deutsche Industrieanlagen (DIAG), has joined X-ZELL’s current three million US dollar seed+ funding round.
Ranked amongst Asia’s 50 most innovative health technology start-ups for two years running, X-ZELL specialises in the detection of early stage cancers from small blood and tissue samples.The company recently made headlines for successfully isolating and visualising tumour-associated Circulating Endothelial Cells (tCEC) from the blood of high-risk prostate cancer patients.
Long considered undetectable in clinical routine, these ultra-rare cells help physicians diagnose clinically significant cancers early, when they can be cured – in turn avoiding more than 70 per cent of unnecessary interventions and saving billions to health systems worldwide.
X-ZELL is the company’s first investment in the burgeoning biotechnology space, according to Managing Partner, Dr Klaus Lesker. “Part of our ongoing diversification strategy is to identify the most promising future growth markets and align ourselves with businesses that have the potential to leave their mark on them,” he explained. “Disease prevention and early detection are among the most pressing medical challenges of our time, which is why we are extremely excited to be investing in X-ZELL’s patented rare cell detection technology and the professional team behind it.”
Managing Director Martin Wiechers added that DIAG’s global footprint would instantly benefit the growing X-ZELL organisation. “With our extensive experience in product development, sales and marketing, as well as our vast international network, we believe DIAG can contribute significantly to the ongoing growth of X-ZELL.”
Dr Sebastian Bhakdi, Founder & CEO of X-ZELL, commented, “It’s an absolute privilege to be able to welcome a long-standing name like DIAG on board as X-ZELL’s first institutional investor since Y Combinator joined us in 2016.“DIAG can draw on a rich tradition in the industrial services space and will enable us to continue scaling up the X-ZELL organisation so we can help as many patients as possible, as soon as possible.”
X-ZELL’s current Seed+ round commenced in mid-2018 and is expected to close at the end of 2019. It is aimed at bringing the company’s first tCEC-based cancer detection test – dubbed X-ZELL Prostate™ – to market in the ASEAN region and apply the underlying platform technology to additional cancer indications.The company’s ultimate goal is to develop a general early cancer detection test suitable for population based screening.
DIAG has many years’ experience as an industrial service provider in the fields of oil & gas, renewable energies, mining and infrastructure. As a general contractor or in collaboration with joint venture partners DIAG investigates development opportunities in selected markets and organizes partnerships and collaborations for projects around the world. The holding company assists in the development of new business models and acquires shares in other companies.