HiloProbe secures 3 SEK Million in funding for sales initiation

Umeå based HiloProbe has raised an additional SEK 3 Million 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, enabling 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®. This reagent kit 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 becoming commercially successful."