FenoMark Enhances Lung Cancer Diagnostics with Almi Invest's Backing
Deal News | Feb 04, 2025 | ALMI Invest Mitt AB
Almi Invest Mitt AB has announced an investment in FenoMark Diagnostics, a Stockholm-based company focusing on improving lung cancer diagnosis and treatment through mass spectrometry-based proteomics. The partnership includes key players like Karolinska Institutet Holding and Blue Cabinet, highlighting a shift towards integrating advanced proteomics in standard medical practice. The lung cancer diagnostics market is expanding rapidly, with projections of substantial growth by 2032. FenoMark, founded in 2019 by experts from Karolinska Institutet, aims to transform cancer diagnosis and treatment with their precision diagnostics technology. The investment will help FenoMark commercialize its technology and make precision diagnostics more accessible. FenoMark's progress is marked by the launch of its first product in 2024, which is a significant milestone in bringing its technology to broader clinical application.
Sectors
- Biotechnology
- Healthcare
- Investment
Geography
- Sweden – FenoMark is a Stockholm-based company, highlighting Sweden's role in the article.
- Europe – The discussion includes the European market's rapid growth in cancer diagnostics, making it geographically relevant.
- USA – Market growth predictions for lung cancer diagnostics highlight the United States' contributions to the context.
Industry
- Biotechnology – FenoMark operates in the biotechnology sector with its focus on developing diagnostic technologies for healthcare using proteomics.
- Healthcare – The article is centered on advancements in healthcare diagnostics and treatment, particularly for lung cancer.
- Investment – Almi Invest's involvement highlights the investment aspect as they provide financial backing for FenoMark's technological advancements.
Financials
- 46.7 billion USD – The valuation of the proteomics market in 2022.
- 5.26 billion USD – The valuation of the mass spectrometry market in 2022.
- 2.04 billion USD – The projected value of the lung cancer diagnostics market in 2024.
- 3.12 billion USD – The projected value of the lung cancer diagnostics market in 2032.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FenoMark Diagnostics | Target Company | Company | A Stockholm-based company focused on improving lung cancer diagnostics through mass spectrometry-based proteomics. |
| Almi Invest Mitt AB | Investor | Company | A Swedish investment firm providing financial backing for FenoMark's initiatives. |
| Karolinska Institutet Holding | Co-Investor | Company | Part of the investment consortium supporting FenoMark, affiliated with the prominent Karolinska Institutet. |
| Blue Cabinet | Co-Investor | Company | A co-investor involved in backing FenoMark's advancements. |
| Janne Lehti | Expert | Person | Professor at Karolinska Institutet and global expert in clinical proteomics, contributing to FenoMark's scientific direction. |
| Santeri Kiviluoto | CEO | Person | CEO and co-founder of FenoMark, with experience in biomedical research and business development. |
| Lukas Orre | CSO | Person | Chief Scientific Officer at FenoMark, specialist in cancer treatment and biomarkers. |
| Gustav Notander | Investment Manager | Person | Investment Manager at Almi Invest, providing insights on the investment's potential. |