Rarity Bioscience announces the successful closure of a €6.5 million funding round

 

June, 18th 2024, Uppsala, Sweden
Rarity Bioscience, a pioneering molecular biotech company, is pleased to announce the successful closure of a €6.5 million funding round. This latest round of investment was led by Navigare Ventures, with strong support from existing shareholders, including Novalis Biotech and UU Invest, as well as external strategic investors.The funds raised will play a crucial role in advancing Rarity Bioscience’s mission to democratize nucleic acid mutation detection. The capital infusion will be utilized to further develop the company’s cutting-edge technologies, enhance operational capabilities, and accelerate commercialization and go-to-market strategy.

 

“Securing this funding is a significant milestone for Rarity. I’m very pleased with how the round came together and excited by all the interest we received during the process” said Linus Bosaeus, CEO of Rarity Bioscience. “This investment will enable us to push the boundaries of innovation and bring our groundbreaking solutions to market faster”

 

Navigare Ventures, an early-stage investor specialized in science-driven companies, recognizes the transformative potential of Rarity Bioscience’s technologies.

“We are excited to lead this funding round to support a team of innovators and entrepreneurs with world-leading ability to bring new molecular tools to the market. With Rarity’s proprietary platform technology for amplification and detection of nucleic acid sequences – achieving an attractive combination of high sensitivity, multiplexity and throughput – we foresee multiple opportunities to improve health care, starting with applications within cancer research and care.”
– Alex Basu, Investment Manager at Navigare Ventures

 

The funding round was also supported by strategic external investors along with existing investors, including Ulf Landegren, UU Invest (the investment arm of Uppsala University) and Novalis Biotech (Ghent, Belgium) an early-stage venture capital investor in technologies that revolutionize healthcare focused on “enabling technologies” within genomics, bioinformatics, diagnostics, and personalized medicine.

 

“Having had the privilege to follow the Rarity team and technology for more than a year now made the investment decision very easy. I can only resonate my own initial impression, extremely innovative and cool technology and a team with impressive pedigree and executional excellence“
– Wim Van Criekinge, Co-founder & Managing Director Novalis Biotech

 

Following this round of funding, Alex Basu from Navigare Ventures and Jaroslav Belotserkovsky from Novalis Biotech will take seats on the board of directors. Their extensive experience and strategic insights are expected to significantly contribute to the company’s growth and governance.

 

You can read more about Rarity Bioscience and our journey here: About Us