# ProteoMediX

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/proteomedix

- Industry: Healthcare Specialists
- Headquarters: Switzerland
- Website: www.proteomedix.com
- Total disclosed funding: $13M
- Latest round: Series C (Aug 16, 2016)
- Investors on record: 4

## About

ProteoMediX AG specializes in innovative blood testing solutions for the early diagnosis of prostate cancer, focusing on enhancing diagnostic accuracy and reducing invasive procedures for patients in need.Founded in 2010 and headquartered in Switzerland, ProteoMediX AG develops advanced diagnostic tests. The company has evolved its strategies over time but specific pivots are not documented. The co-founders, Christian Brühlmann and Ralph Schiess, have contributed their expertise to shape the firm’s direction. As of December 18, 2023, ProteoMediX AG became an acquisition target, acquired by Blue Water Biotech in an all-stock transaction for undisclosed financial terms. The company has engaged in a total of six deals, with its latest funding round occurring in December 2023, led by Altos Venture, which raised CHF 5.2 mn, equal to the total amount raised.Proteomedix offers Proclarix®, a next-generation blood test specifically designed for diagnosing prostate cancer. This multiparametric test uses the same blood sample as the Prostate-Specific Antigen (PSA) test, eliminating the necessity for invasive biopsies. Proclarix is particularly beneficial for patients with PSA levels between 2-10 ng/ml, addressing a diagnostic grey zone where traditional testing often falls short. The test is CE-IVD labeled and is conducted in local diagnostic laboratories in various regions, emphasizing markets with a high prevalence of prostate cancer.Proteomedix generates revenue primarily through the distribution of Proclarix® to diagnostic laboratories and healthcare providers. The company participates in direct business-to-business transactions, allowing laboratories to integrate Proclarix into their diagnostic services. Transactions typically involve bulk supply agreements or partnerships with healthcare institutions, focusing on affordability and accessibility within the healthcare sector. Proclarix is positioned as a cost-effective solution that enhances diagnostic accuracy while minimizing unnecessary procedures and associated healthcare costs.Following the acquisition by Blue Water Biotech in December 2023, which rebranded to Onconetix Inc., ProteoMediX AG is expected to leverage new resources for its growth strategy. The organization plans to expand its market presence and enhance its product offerings. Specific upcoming products have not been detailed, but there is an overall strategy for entering new geographic markets, particularly those with growing needs for prostate cancer diagnostics. The recent funding will likely support these initiatives, driving the development and distribution of their advanced testing solutions.

## Funding rounds

- Series C, Aug 16, 2016, $5.2M — Zürcher Kantonalbank, Altos Venture
- Series B, Jan 27, 2015, $1M — Altos Ventures, Zürcher Kantonalbank
- Series B, Apr 9, 2014, $3.6M — Zürcher Kantonalbank, Altos Venture
- Series A, Jan 12, 2012, $2.7M — Zürcher Kantonalbank, BioValley Business Angels Club, Altos Venture

## Investors

- Zürcher Kantonalbank — Series A, Series B, Series C
- BioValley Business Angels Club — Series A
- Altos Venture (https://capitalatlas.ai/funds/altos-venture) — Series A, Series B, Series C
- Altos Ventures (https://capitalatlas.ai/funds/altos-ventures) — Series B