Polish biotech Intelliseq raises €1.6M to develop DNA analysis technology
The Krakow-based biotech company Intelliseq has raised €1.6 million (PLN 7.5 million) aimed at further development of DNA analysis technology. The YouNick Mint fund led the round together with private investors related to the medical industry, My Company Polska reports.
- Founded in 2014 by Slawomir Golda and Klaudia Szklarczyk-Smolana, Intelliseq is a genome informatics company from scientists in the fields of pharmacogenomics and transcriptomics. The company is focused on the development of novel algorithms and bioinformatic tools devoted to interpretation of human DNA sequence.
- So far, the team created a platform analyzing human genome for precision medicine — IntelliseqFlow. In 2017, the company also introduced to the US market its first mobile application for genetics, MyTraits Sport. Now, thanks to the investment from YouNick Mint the startup plans to expand their product base.
“The obtained funds will allow us to further commercialize the product. We want to strengthen our position, first of all, in the USA, where we have already implemented projects in the field of consumer genetics and diagnostics. And in the Asian market, which is developing very quickly in the area of sequencing and genetics. We are also planning a further functional expansion of IntelliseqFlow,”Dr. Klaudia Szklarczyk-Smolana, co-founder and CEO of Intelliseq, comments.
- YouNick Mint Venture Capital is the main investor in this round. The fund wants to invest €32 million over 6 years in projects which offer global potential in areas like healthcare, digital healthcare, industry 4.0. Apart from the lead, the company’s long-term investor Unfold.vc and business angels from COBIN Angels also participated in the round.
- In a year, Intelliseq plans to acquire more funds, this time from global investors. It also wants to increase the team in Poland and abroad in the near future.