Tissue diagnostics specialist Definiens has closed a EUR15 million funding round led by venture capital firm Wellington Partners.
Gilde Healthcare co-led the financing round and was joined by other existing investors Cipio Partners and TVM Capital in the financing.
In conjunction with the financing, Dr Rainer Strohmenger, general partner and managing director for Wellington, will join Definiens' board of directors.
The new funds will allow Definiens to grow its business in digital pathology image analysis and expand into digital tissue diagnostics. Major investments will be made in executing the company’s Tissue Phenomics strategy, enabling partnerships with leading medical centres and pharmaceutical companies to advance the diagnosis and treatment of cancer.
Strohmenger says: “We have been following Definiens for many years and have always been impressed by the visionary concept and exciting technology the company has. We believe that Definiens now is approaching an inflection point which will have a significant impact on the growth potential and strategic value of this business for the leading players in imaging, diagnostics and oncology drug development.”
Thomas Heydler, CEO at Definiens, says: “Wellington Partners is one of the few investors experienced in both diagnostics and healthcare IT with a strong track record of successfully building and capturing value from businesses in these areas. We are honoured to add Wellington to our investor base and welcome Dr. Strohmenger to our board of directors. This financing will allow us to pursue our aggressive growth strategy to further expand our global leadership in Tissue Phenomics.”
