NEW YORK – Molecular pathology company Xyall said on Tuesday it has raised €6 million ($6.4 million) in a Series B round to hasten commercialization of its Tissector High Throughput and Tissector Table Top systems.
A consortium headed by venture capital firm Health Investment Partners led the round with participation from existing investors Sioux Technologies, the Brabant Development Agency, and private investors.
Based in Eindhoven, Netherlands, Xyall develops technology that allows pathology laboratories to automate their tumor tissue dissection workflows. The Tissector High Throughput System, launched in 2021, is aimed at large molecular labs. Xyall plans on launching the Tissector Table Top System for hospital-based molecular labs later this year.
Molecular diagnostics have seen improvements in PCR- and next-generation sequencing-based technologies, but the selection of tumor tissue and cell samples for molecular diagnostic testing remains a manual, labor-intensive process with a risk for errors and cross contamination, Xyall said, adding that a global shortage of lab technicians has further put pressure on clinical labs.
“Clinicians and lab scientists have been calling for faster and more accurate tissue dissection so that precision medicine could become a reality," Xyall CEO Guido du Pree said in a statement. The company's technology "provides the missing link by delivering fully automated tissue dissection solutions which enable a more efficient, standardized, and more accurate workflow."