Ventures

Noscendo gets financing for diagnosing blood infections

thg 10 31, 2018

Noscendo closes financing round for platform that detects pathogens in blood infections

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Author

Dr. Peter Haug

Dr. Peter Haug

Founding Angel, co-founder of life sciences start-ups Noscendo and Oncgnostics

Dr. Peter Haug specializes in developing start-up companies in chemistry, cleantech, biotech and pharma. He was formerly CEO of a cleantech start-up.

The diagnostic procedures developed by Noscendo help intensive care clinicians identify the pathogens in bloodstream-associated infections. Munich-based family office Wieland Capital, HTGF and three business angels with in-depth knowledge of the diagnostics industry are jointly investing a seven-digit sum of Euros into Noscendo GmbH. These funds will enable Noscendo to receive approval for its medical device and prepare for the market entry of Noscendo’s proprietary diagnostic platform.

 

In two-thirds of all cases, existing diagnostic procedures do not allow intensive care clinicians to draw conclusions on the pathogens causing bloodstream-associated infections such as sepsis (“blood poisoning”) and endocarditis (inflammation of the inner layers of the heart). Therapy options are therefore very often limited to administering broad-band antibiotics. Unspecific therapy leads to high mortality rates and severe complications in many patients, and also accentuates the issue of resistant hospital pathogens.

Three men — including two co-founders of Noscendo, Dr.  Philip Stevens and Dr. Peter Haug — look at a computer screen together.

Noscendo identifies bacteria, fungi, viruses and parasites in the patient’s bloodstream via Next Generation Sequencing (NGS) and is able to assess the relevance of each pathogen using proprietary algorithms. In poly-microbial infections, the diagnostic platform differentiates the primary pathogens across various classes. Using Noscendo’s analytical results, intensive care clinicians can treat patients much more specifically by administering the most effective therapeutic drug according to the identified relevant pathogen.

 

“We are absolutely delighted to have won over a powerful consortium of investors in the form of Wieland Capital as lead investor, HTGF and three highly experienced business angels, who will be a great support in further developing our approach,” says Dr. Philip Stevens, CEO of Noscendo. Robert Wieland, Managing Director of the Munich-based family office Wieland Capital, strongly believes in the tech­no­logy: “Noscendo’s diagnostic platform for analysis and identification of pathogens provides far more precise and reliable results and has the potential to define a new gold standard in intensive care.”

Financial resources from the investment round will be utilized for CE certification of Noscendo’s diagnostic platform as a medical device (“Software as a Medical Device”) and preparation for market entry. “Together with innovative intensive care clinicians and sophisticated partners, we will introduce our diagnostic services as a mail-in business as well as on-site in selected hospital laboratories,” says Dr. Peter Haug, CEO and Head of Business Development.

 

“The excellent feedback from clinical directors and the huge experience of the team and the business angels provide ideal conditions for Noscendo to set a new standard in the pathogen detection of life-threatening blood stream infections,” says Dr. Fabian Mohr.

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