Pixelgen Technologies said Aug. 20 it has closed an oversubscribed $15.5 million Series B financing round.
New investor Flat Capital led the round, joined existing investors Industrifonden and Navigare Ventures. Stockholm-based Pixelgen said it would use the funding to accelerate commercialization of its Proxiome Kit and expand into new markets around the world.
Pixelgen’s Proxiome Kit uses its proximity network assay to show researchers how proteins are grouped and organized on the surface of individual cells.
Alongside the financing, Pixelgen is adding Flat Capital CEO Rickard El Tarzi and life sciences entrepreneur Ramon Felciano to its board of directors. El Tarzi previously served as chief strategy and product officer at Olink, now part of Thermo Fisher Scientific. Felciano founded Ingenuity Systems, an AI-driven genome interpretation company acquired by Qiagen in 2013 for $105 million and later served as that company’s CTO.