Osborne Clarke advises neoteq ventures on investment in Detechgene

Osborne Clarke has advised neoteq ventures on its investment in the Cologne-based life sciences start-up Detechgene as part of their second seed financing round. In addition to the lead investor, NRW.BANK, Aquarius Invest, Meerkat Holding, Campus Capital and several business angels also participated. According to the company, the financing volume amounts to around EUR 3.2 million.

Detechgene was founded in Cologne in 2022 and has developed PCR to Go, a mobile, rapid and precise molecular diagnostics system that combines the sensitivity of laboratory-based nucleic acid tests with the ease of use of rapid tests. The modular platform includes a cartridge system and automated sample preparation, does not require extensive laboratory infrastructure and is designed for multiplex-capable tests – for medical practices, care facilities, regions with limited healthcare infrastructure as well as international deployments.

The start-up has now closed its second seed financing round of around EUR 3.2 million. The round was led by early-stage investor neoteq ventures, which specialises in technology-driven start-ups. “Detechgene addresses a global challenge with a solution that is rapid, mobile and precise – without compromising laboratory diagnostics standards,” said B.J. Park, Managing Partner of neoteq ventures.

The proceeds from the round will be used for the further development, validation and preparation of production of the system, as well as for the market entry strategy. For a hardware- and reagent-intensive deep-tech start-up, a Seed II financing of this magnitude is an important step towards achieving technical milestones and preliminary regulatory work – paving the way for pilots and follow-on financings.

The Osborne Clarke team that advised neoteq ventures on this transaction under the lead of Benedikt Hülsmann and partner responsibility of Nicolas Gabrysch (both Corporate / VC) consisted of Andrea Schmoll and Anton Salmhofer (both IP) as well as Nils-Frederik Wiehmann (Employment).