Cardeon Futuring Finance further expands its portfolio by investing in the research company Reccan Diagnostics AB.
Reccan Diagnostics is a Swedish company based on research which is carried out at the University of Lund. The company has developed a biotechnology platform for in vitro diagnostics, which provides earlier and more precise diagnosis as well as improved prognostic evidence of solid cancer tumours.
Reccan Diagnostics has several patents. The technology platform is based on a patented combination of protein biomarkers that can be detected in blood and tissue samples. The primary area of focus is pancreatic cancer, currently the third main cause of cancer-related death. Pancreatic cancer is expected to become the second cause of cancer-related death within a few years if no action is taken.
“This year, pancreatic cancer will be the second most deadly cancer disease and treatment results have only marginally improved over the past few decades” says Reccan Diagnostics’ Chairman Roland Andersson
There is an unmet need in Oncology for new biomarkers that can be used as a tool for early detection and as a guide for treatment. Reccan Diagnostics has scientific expertise when it comes to identifying protein targets that are specific to clinical application using modern mass spectrometry and validation, with orthogonal platforms such as tissue microray, immunohistochemistry, and enzyme-linked immunosorbent assay (ELISA).
Cardeon offers funding to Nordic innovative companies / start-ups in Life Sciences with the potential to change the global market. The portfolio includes companies such as SpectraCure, Lumito and Prolight Diagnostics.