Aligned Bio – was awarded 2.3 M€ in funding by the EIC Accelerator program

Rapidus reports: “The European Innovation Council Accelerator has awarded Aligned Bio €2.3 million in funding, with the possibility of a further €2.3 million in venture capital. This is to accelerate the company’s efforts to detect biomarkers at the molecular level using the patented Aerotaxy nanowire production process. This spring, the company is expected to close a new share issue of a further SEK 50-60 million.

– It was a long process that started with a written pitch, then a video pitch followed by a written application of 100 pages. Then 1.5 hours of hearings by a jury panel of experts. It’s been a lot of work, but now of course it feels worth it, says Aligned Bio’s CEO Erik Smith.

The Lund-based company was one of about 4,500 applicants, of which four percent were granted support by the EIC Accelerator. The programme will run for two years and Aligned Bio will focus on the detection of three different diseases in collaboration with three “internationally very well-known” partners. The announcement of the EU money also came shortly after Aligned Bio opened an investment round in the hope of raising €7-8 million.”