ArgusEye closes €2.8 million funding to accelerate bioprocessing
Summary
Leveraging 15 years of research, Erik and Daniel initiated their partnership at a laboratory in Link\xf6ping, Sweden, developing ArgusEyes localized surface plasmon resonance (LSPR) technology, which uses gold nanoparticles for precise and targeted protein measurements, and formed the basis of ArgusEyes technology. Following its partnership with Bayer in 2021, ArgusEye has continued to validate its technology and expand its customer base.In traditional biopharmaceutical manufacturing, quality control involves labor intensive remote testing, leading to significant delays in defect detection. The investment will enable ArgusEye to expand the Auga platform to support upstream bioprocessing and formulation of a wide range of target molecules, transforming biotherapeutic development and production.Jenny Engerfelt, Investment Director at Voima Ventures, said:ArgusEyes technology holds the promise of driving down healthcare costs by improving efficiency in biopharmaceutical manufacturing processes, leading to better health outcomes for more people.As one of the main shareholders in the company, we are extremely proud and excited to further support ArgusEyes journey of bringing revolutionary sensor technologies for next generation bioprocessing to life, enabling automated development and production of medicines to make them accessible to a larger part of the population with a reduced ecological footprint. "Erik Martinsson, CEO at ArgusEye, said: "As ArgusEye embarks on its scale-up phase, our focus is twofold: expanding our market footprint geographically and diversifying our product offerings to encompass the entire pharmaceutical process chain, from upstream cell growth to downstream purification and late-stage formulation as well as GMP production. This strategic approach aligns with our commitment to deliver cutting-edge solutions that address the evolving needs of the biopharmaceutical industry and our vision to enable a more sustainable and democratic reach of biomedicines, transforming biopharma manufacturing through real-time inline quality control."