Luxendo has raised €8M to start international sales of its unique microscopy technology aiming to take over confocal microscopes in biology research.
Luxendo, a spin-out from the European Molecular Biology Laboratory (EMBL) in Heidelberg, Germany, has closed its Series A fundraising round led by Life Science Partners (LSP), one of the best European biotech VCs. The total €8M raised will be used to drive the international sales of Luxendo’s single plane illumination microscopy (SPIM) technology.
These microscopes are specifically designed to image living samples during prolonged periods of time. Unlike conventional confocal fluorescent microscopes, SIMP avoids phototoxicity by sequentially illuminating a stack of thin slices, each as small as one micrometer high, to reduce the damage and stress in the living elements under observation.
In addition, the technology uses 360° illumination to obtain 3D images without moving the sample. “SPIM allows researchers to see things they couldn’t dream of before, such as imaging the entire embryonic development of an organism with subcellular resolution,” said Joachim Rothe, Managing Partner at LSP.
“We are convinced that Luxendo will become the leading supplier of this exciting technology to biomedical research labs around the globe,” added Rothe. The microscopy market currently valued at €4.4B ($4.7B) and more than 2,500 cell biology labs using currently confocal microscopes worldwide. Luxendo, which so far doesn’t seem to have any direct competitors, could consequently reach high revenues very soon.
For such a young company, roughly one year old, this would be a great success. No wonder it managed to attract one of the best life sciences investors in Europe.
Images from Luxendo