HiloProbe has raised an additional 3 million kronor in funding from existing owners. This capital injection is a step towards achieving the next goal.
”The main focus of this capital injection is to initiate sales, which will enable us to attract a larger amount of capital. We anticipate reaching a break-even point after that,” says Lina Olsson, CEO of HiloProbe.
HiloProbe describes the interest in its product as “significant” and that the company is close to a breakthrough and the commencement of using ColoNode®, a reagent kit that utilizes molecular technology, RT-PCR, along with associated web-based software to analyze lymph nodes after surgery of patients with colorectal cancer.
Partnerinvest Norr, an early investor in HiloProbe since 2018, is among the financiers who have recently provided this new capital boost.
“Through several clinical studies, HiloProbe’s ColoNode® has been proven to offer more detailed information about colorectal cancer patients’ condition to the treating physicians than current methods allow”, says Mattias Eriksson, investment manager at Partnerinvest Norr, before adding:
”We believe that HiloProbe has a good chance of contributing to improved cancer care and thereby also becoming commercially successful.”