SphingoTec Closes €5M Series C to Accelerate Market Development and Financial Growth with Innovative Biomarkers

Issuer: SphingoTec GmbH / Key word(s): Financing/Investment SphingoTec Closes €5M Series C to Accelerate Market Development and Financial Growth with Innovative Biomarkers 08.08.2024 / 10:00 CET/CEST The issuer is solely responsible for the content of this announcement.

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• SphingoTec GmbH has successfully secured funding to drive its global expansion, including the US market, through strategic collaborations.
• The investment round is led by Think.Health Ventures, with support from existing investors. Think.Health Ventures will add significant value to SphingoTec through its expertise in diagnostics and its extensive network in clinics and laboratories.
• The raised capital will be pivotal in advancing the out-licensing and commercialization of SphingoTec’s innovative biomarkers for critical care, aiming to significantly improve patient management and outcomes.
• The funding underscores SphingoTec’s dedication to pioneering advancements in critical care patient management.

Hennigsdorf/Berlin, Germany, August 8, 2024 - Diagnostics company SphingoTec GmbH (“SphingoTec”) announces the successful closing of a Series C financing round. The raised capital will allow the company to reach profitability through sustained and strategic commercialization of its products. This includes supporting market development, out-licensing activities, and close collaboration with licensees. SphingoTec aims for global expansion, including entry into the US market.

The lead investor, Think.Health Ventures, specializes in healthcare ventures that focus on innovations and business models in digital healthcare, medical technologies, and health service providers. Think.Health Ventures will provide support to the SphingoTec management team through its extensive network in clinics and laboratories. Additionally, SphingoTec has secured support from existing investors, which include Brandenburg Kapital, HBM Healthcare Investments, NRW.BANK, and Wellington Partners.