The recent investment by venture capital investors Creathor Venture, Rheinland Venture Capital (RVC) und KfW has been a key step in forming Sividon Diagnostics, a spin-off from the diagnostics division of Siemens Healthcare. Through this funding the company will be able to develop and market innovative invitro diagnostics in personalized medicine.
With the EndoPredict® assay Sividon Diagnostics is now launching its first product for pathology laboratories. The new test has been validated in more than 1700 patients in two clinical studies of the Austrian Breast and Colorectal Cancer Study Group (ABCSG). The results of this study show that the EndoPredict® assay allows for a significantly improved risk assessment of breast cancer: It enables a more accurate stratification according to the aggressiveness of the tumor. Even without receiving chemotherapy patients having a good prognosis according to EndoPredict® take a 95% chance to stay recurrence-free over the next 10 years. Therefore the test offers a science based rational for choosing a less aggressive therapeutic regime for a significant proportion of all breast tumor patients, helping to protect them from avoidable side effects in the future.
Sividon Diagnostics is focusing on developing further products in breast cancer and other oncological indications out of its well-filled pipeline.
"We are very pleased that we were able to found Sividon Diagnostics and could launch our product through the support and the network of our investors." state Dr. Christoph Petry und Dr. Georg Kox, Sividon's managing directors.
From an investor's perspective Sividon Diagnostics is a very attractive opportunity,"as it is built on a sound and innovative business model within personalized health care that develops and offers customized solutions for current medical problems" as the syndicate of investors stated."
About Sividon
Sividon Diagnostics' management team represents decades of professional experience in Molecular Diagnostics. Sividon is based on know-how and patented IP licensed from Siemens, together with own research results from a wide spread network of renowned European researchers. This is Sividon's foundation for developing innovative products to help improving therapy selection in cancer.
About Rheinland Venture Capital
The Rheinland Venture Capital GmbH & Co KG (RVC) is a seed fund of the Cologne District Savings Bank, Saving Bank KölnBonn, NRW Bank, Georgieff Capital and private investors. Investment focus of the RVC are companies involved in life science and medical technology, information and communications technology, new materials and micro and nanotechnology, based in the Rhineland. RVC was established in December 2006 with a fund volume of € 10 million and is managed by the managing directors Dr. Andreas Tietmann and Wilfried Frohnhofen. It is scheduled later this year a follow aufzuzlegen RVC Fund II.
About KfW - ERP-Startfonds
KfW finances and supports, among other things, business start-ups, small and medium-sized enterprises (SME) as well as investments in economic growth and employment projects in Germany. The ERP Start-up-Fund, administered and co-financed by KfW, offers equity financing for innovative, technology-based enterprises with excellent growth prospects. The fund finances research and product development as well as the launching of new products, procedures and services. KfW always cooperates with a lead investor and exclusively adopts market conditions. Since 2004; the 470 Mio. Euro ERP Start-up-Fund has so far allocated 300 Mio. Euro to emerging technology-based companies.
With the EndoPredict® assay Sividon Diagnostics is now launching its first product for pathology laboratories. The new test has been validated in more than 1700 patients in two clinical studies of the Austrian Breast and Colorectal Cancer Study Group (ABCSG). The results of this study show that the EndoPredict® assay allows for a significantly improved risk assessment of breast cancer: It enables a more accurate stratification according to the aggressiveness of the tumor. Even without receiving chemotherapy patients having a good prognosis according to EndoPredict® take a 95% chance to stay recurrence-free over the next 10 years. Therefore the test offers a science based rational for choosing a less aggressive therapeutic regime for a significant proportion of all breast tumor patients, helping to protect them from avoidable side effects in the future.
Sividon Diagnostics is focusing on developing further products in breast cancer and other oncological indications out of its well-filled pipeline.
"We are very pleased that we were able to found Sividon Diagnostics and could launch our product through the support and the network of our investors." state Dr. Christoph Petry und Dr. Georg Kox, Sividon's managing directors.
From an investor's perspective Sividon Diagnostics is a very attractive opportunity,"as it is built on a sound and innovative business model within personalized health care that develops and offers customized solutions for current medical problems" as the syndicate of investors stated."
About Sividon
Sividon Diagnostics' management team represents decades of professional experience in Molecular Diagnostics. Sividon is based on know-how and patented IP licensed from Siemens, together with own research results from a wide spread network of renowned European researchers. This is Sividon's foundation for developing innovative products to help improving therapy selection in cancer.
About Rheinland Venture Capital
The Rheinland Venture Capital GmbH & Co KG (RVC) is a seed fund of the Cologne District Savings Bank, Saving Bank KölnBonn, NRW Bank, Georgieff Capital and private investors. Investment focus of the RVC are companies involved in life science and medical technology, information and communications technology, new materials and micro and nanotechnology, based in the Rhineland. RVC was established in December 2006 with a fund volume of € 10 million and is managed by the managing directors Dr. Andreas Tietmann and Wilfried Frohnhofen. It is scheduled later this year a follow aufzuzlegen RVC Fund II.
About KfW - ERP-Startfonds
KfW finances and supports, among other things, business start-ups, small and medium-sized enterprises (SME) as well as investments in economic growth and employment projects in Germany. The ERP Start-up-Fund, administered and co-financed by KfW, offers equity financing for innovative, technology-based enterprises with excellent growth prospects. The fund finances research and product development as well as the launching of new products, procedures and services. KfW always cooperates with a lead investor and exclusively adopts market conditions. Since 2004; the 470 Mio. Euro ERP Start-up-Fund has so far allocated 300 Mio. Euro to emerging technology-based companies.
