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Diagnoplex Closes CHF10 Million ($8.3 Million) Series A Financing
Date:12/10/2008

s obtained in a training set of 140 patients have shown that the power of the molecular platform allows Colox to detect even the pre-cancerous stage of adenoma. Early detection and intervention by colonoscopy can have an important impact on the epidemiology of colon cancer, one of the main causes of cancer related mortality in the western world. It is estimated that survival rates improve to 90% when colorectal cancer is detected early.

"We are excited to be working with Diagnoplex on developing their technology for the non-invasive detection of colon cancer. Colon cancer is one of the leading causes of death and early detection makes a huge difference in patient survival. Since compliance with guidelines for screening with colonoscopy is poor, too many cases are detected too late. The need for non-invasive screening is tremendous," said Anja König.

"Diagnoplex is targeting a very exciting market opportunity for molecular diagnostics. With the rise of personalized medicine, this is one of the healthcare areas with vast market potential that is currently underserved. We believe that Diagnoplex will be a leader in this important field," said Thomas Goebel.

"We are excited to welcome a high quality group of investors and look forward to working with this outstanding syndicate to bring powerful new cancer screening approaches to bear on the early detection of cancer," said Stavros Therianos, Ph.D., chief executive officer and founder of Diagnoplex.

About Novartis Venture Fund

Novartis Venture Fund, established in 1996, has currently over $650 million under management and is invested in more than 50 private companies. The Novartis Venture Fund invests in companies which have the potential to lead the next innovation wave in core therapeutic fields or explore new business areas that will be critical to patient care. The NVF team of eight investment professionals located in Basel,
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SOURCE Diagnoplex
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