iCellate Medical secures 20 MSEK in new funding

News

Stockholm, Sweden - 18 May 2022 - iCellate Medical has closed a successful round of financing, raising 20 MSEK from a combination of existing and new investors. iCellate develops tests for hereditary cancer risk, early cancer detection, and treatment selection.

iCellate is a privately held biotechnology company, leading the industry in cancer diagnostics. Through liquid biopsy tests, where the analysis of tumor-derived material in the blood, iCellate paves the way for precision medicine to reach more patients. Ongoing clinical studies in various cancer types (prostate, pancreatic, ovarian, and colorectal cancer) for iCellate’s CTC-based technology CellMate® show promising early results.

The company is in an exciting phase in which commercial activity for the hereditary cancer test GeneMate® is ramping up. GeneMate®’s recent launch in the UK and Ireland and collaboration with Swedish National football player Olivia Schough provide the opportunity to reach a greater audience. 

iCellate’s Chairman of the Board Anders Qvarnström comments, ”We are very grateful for the continued support of our existing owners, as well as thrilled to welcome new strong investors”. 

“I am extra happy that the CellMate® study results are so compelling. We know it is still early, but it is encouraging to see the result of the past years’ development in the form robust clinical performance” says Pelle Redare, CEO of iCellate.

About iCellate Medical

iCellate was founded in 2011 as a spinoff of research conducted at the Karolinska Institute and Karolinska Hospital. The company has its headquarters and laboratory in Stockholm’s Hagalund, where it performs all of its services.

iCellate analyzes circulating tumor cells (CTCs) and genomic DNA to support clinicians in cancer diagnosis throughout the disease’s lifecycle.