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Last week, MultiplexDX, led by renowned scientist Dr. Pavol Cekan, received the largest investment in the Slovakian biotech industry. The company received 1,2 million euros from American Ronald Cook, several investors from the Crowdberry investment platform, as well as other angel investors, who all became co-owners of MultiplexDX. The company was founded two years ago with a vision to make its unique cancer diagnostics the worldwide standard. Thanks to its revolutionary technology, the proportion of well-established diagnoses could increase to 99 percent.
Dr. Pavol Cekan, Founder and CEO of MultiplexDX, comments:
“Cordial thanks to Ronald Cook, the Crowdberry platform, Neulogy Ventures, our angel investors and many other amazing people who believe in us, our innovations and mission to eliminate cancer misdiagnosis! This second investment is an important milestone for the company. We're going to follow our current strategy, enhance our team, expand our corporate infrastructure (including building a cutting-edge laboratory in Slovakia), and boost marketing and sales.”
The company holds the European Commission's “Seal of Excellence,” which opens the door to a grant of ca. €3 million and other fundraising opportunities. The first €400,000 commercial investment in MultiplexDX was acquired in 2016 by Neulogy Ventures, which is still active in the company's ownership structure. In July 2018, the company also received a €176,000 grant from the Ministry of Education of the Slovak Republic. Furthermore, MultiplexDX holds many international awards, including the Slovak Startup Awards 2016, CESAwards Slovakia 2018, the JCI Creative Young Entrepreneur of 2018, the Biotech Standard of Excellence WebAward 2018, and a prestigious placement in the Health Hub Vienna program. The company has recently joined the “New Europe 100,” ranked by Google and The Financial Times, as the emerging biotechnology star of Eastern Europe.
MultiplexDX plans to complete its revolutionary diagnostic test in 2023. However, the first four constituent products of the final diagnostic test are already on the market and being used by leading international institutions such as the National Institute of Health, Cornell University, Rockefeller University, Vanderbilt University, Albert Einstein University, Queens University (Canada), Hebrew University of Jerusalem, National Cancer Institute, the Max Delbrück Center for Molecular Medicine (Germany), the University Clinic in Düsseldorf, ETH Zurich, and Regensburg University, among others.
MultiplexDX is one of the most innovative biotech corporations, created to bring its revolutionary technologies to the market of personalized molecular diagnostics. The company has representation in both U.S. and European markets. The collaborators of MultiplexDX are from the world’s most prestigious scientific organizations including the National Cancer Institute, Rockefeller University, Albert Einstein University, Vanderbilt University, Cornell University, Queens University (Canada), Hebrew University of Jerusalem (Israel), and the Max Delbrück Center for Molecular Medicine (Germany).
MultiplexDX IP-based and innovative platform merges histopathology methods, biomarker quantification, visualization and gene expression with a single-cell resolution by combining MDX proprietary visual and sequencing technologies into one diagnostic test. This cross-validation approach eliminates diagnostic errors and creates 100% precise cancer profiling for each patient which allows clinicians to suggest specific, personalized cancer treatment.