Eleven Venture Capital from Bulgaria invests in BIOPIX-T
Eleven Venture Capital, which focuses on early stage companies in the southeast Europe, has been added to the investors of BIOPIX-T.
BIOPIX-T was founded in 2019 by George Pappadakis, Electra Gizeli, Alexandros Pantazis, Nikolaos Fokas and Sergios Katsaros.The company is working on the production and commercialization of a portable diagnostic device (Point-of-Care) branded as “PEBBLE”.In less than two years the company has developed diagnostic tests, has forwarded the certification of the device, has expanded its team and has accelerated its commercial operation.
By the end of May, the company will have provided the first devices to distributors and customers. This funding will assist the operation and the expansion of the company, as well as the initial production and distribution of its products.Apart from the local and the European market, through its strategic cooperations, it will commercialize globally.
In 2020 BIOPIX-T received 2,4 million euros funding from the European program Horizon2020 for the instant certification and launching of its device in the market and the Covid19 and Influenza A diagnostic tests. The pandemic reinforced the commercialized prospects of BIOPIX-T and has raised the purchase of home testing/self-testing which was the initial goal of the company.
“We are happy to welcome the strong founding team of BIOPIX-T to the Eleven family. They have an impressive scientific background supported by cooperations with international institutions and organizations. The product is really innovative and corresponds to a long-pending need for portable molecular diagnostic devices which could have lab quality results at the point-of-care.”, commented Valeri Petrov, partner of Eleven.
“We are excited as this has been the ideal moment for the new investment in BIOPIX-T. We are preparing the initial production of the “PEBBLE” and “IVD” kits to cover the needs for molecular diagnostic tests at the Point-of-Care the following months.We are expecting that Greece and Bulgaria will be the first countries which will be benefited from our innovative technology.”,stated George Papadakis, co-founder and CEO of BIOPIX-T.
“With great pleasure we are completing the funding of the company in cooperation with private investors and Eleven VC from neighbouring Bulgaria. The company has achieved a significant development and within the next two months its first products will appear in the local market adding an essential tool for the control of the pandemic.”, added George Karantonis ,partner of Metavallon VC.