Skip to main content
Premium Trial:

Request an Annual Quote

Rarity Bioscience Closes $7M Funding Round

NEW YORK – Swedish molecular diagnostics startup Rarity Bioscience announced on Tuesday that it closed a €6.5 million (about $7 million) funding round led by Navigare Ventures.

The Uppsala, Sweden-based firm said that it plans to use this funding to further develop its SuperRCA cell-free and genomic DNA detection technology, enhance its operational capabilities, and advance its commercialization and marketing strategies.

SuperRCA enables the detection of ultra-low levels of cell-free and genomic DNA in tissue and blood samples via consecutive rolling circle amplification reactions.

Other investors included Novalis Biotech and UU Invest, the investment arm of Uppsala University, along with existing investors including Ulf Landegren and other external strategic investors.

"This investment will enable us to push the boundaries of innovation and bring our groundbreaking solutions to market faster," Rarity CEO Linus Bosaeus said in a statement.

The firm had raised €500,000 in another financing round earlier last year.

In addition to the funding, two investment managers –– Alex Basu from Navigare Ventures and Jaroslav Belotserkovsky from Novalis Biotech –– will join Rarity's board of directors.

Furthermore, Joseph Bernardo, a private investor in Rarity who currently serves as operating partner at Chicago-based Linden Capital Partners and board chairman of StatLab, will also join the company as a strategic adviser to the board, focusing on commercialization and partnerships in the US market.