Stockholm-based Pixelgen Technologies has secured $14.7 million (EUR 12.5 million) in blended grant and equity financing from the European Innovation Council (EIC) Accelerator, marking a significant milestone for the biotechnology company's single-cell protein analysis platform. The funding will accelerate expansion of the company's recently launched Pixelgen Proxiome Kit into new applications including cell-to-cell interactions and tissue analysis.
The EIC selected Pixelgen among 40 innovative companies from 150 applicants in its latest evaluation round, recognizing organizations with "transformative technologies and strong commercial promise." The competitive funding initiative operates under the European Union's Horizon Europe program to support highly innovative start-ups developing disruptive technologies.
Breakthrough Technology for Protein Interactome Analysis
The Pixelgen Proxiome Kit represents the first commercial product line offering researchers high-resolution single-cell analyses through a new omics dimension focused on protein interactomics. The technology is built on Pixelgen's proprietary Proximity Network Assay, which delivers nanoscale spatial analysis of immune cell proteins at ultra-high capacity.
"We're thrilled to receive this highly competitive funding from the EIC," said Pixelgen co-founder and CEO Simon Fredriksson. "The process was rigorous, and the award further reinforces the value of Pixelgen's technology to increase our understanding of complex cellular and functional cell surface arrangements, which we believe will advance drug development and deepen our understanding of precision medicine."
The Proximity Network Assay technology enables researchers to study protein interactions and spatial arrangements at the nanoscale, providing unprecedented insights into cellular function and disease mechanisms. The methodology was recently presented on BioRxiv, demonstrating its scientific validation and potential impact on the research community.
Applications Across Multiple Therapeutic Areas
Pixelgen's platform addresses critical research needs across cancer, hematology, immunology, and cell therapy research. The technology provides novel insights into disease mechanisms, drug response, and biomarker discovery by analyzing protein interactomics at the single-cell level.
The company plans to use the EIC funding to expand platform applications beyond its current capabilities. Key development areas include cell-to-cell interaction analysis, cellular communication studies, and adaptation for formalin-fixed paraffin-embedded (FFPE) tissues, which would significantly broaden the technology's utility in clinical research and precision medicine applications.
Strong Market Reception and Investment Support
Fredriksson noted that the response from leading researchers in both industry and academia to the Proxiome Kit has been "very enthusiastic," indicating strong market demand for the technology. This positive reception supports the company's expansion strategy and validates the commercial potential recognized by the EIC.
Pixelgen is backed by prominent investors including Industrifonden, Sweden's national venture capital fund, and Navigare Ventures. The company was founded in 2020 by a team of experienced innovators and entrepreneurs focused on delivering high-resolution biological analysis tools.
Platform Expansion Strategy
The EIC funding will specifically accelerate the development of new applications for the Proximity Network Assay technology. The expansion into cell-to-cell interaction analysis represents a significant advancement in understanding cellular communication mechanisms, while adaptation for FFPE tissue samples would enable retrospective analysis of archived clinical specimens.
These developments position Pixelgen's technology as a foundational platform for translational research, with the potential to accelerate advances across multiple areas of biomedical research. The company's focus on precision medicine applications aligns with growing industry emphasis on personalized therapeutic approaches based on detailed molecular characterization.
