Series A round lead investors NordicNinja and Industrifonden to support Combinostics as they scale to US and Asia
HELSINKI, Finland (November 21st, 2019) Finnish health tech pioneer Combinostics has announced the closure of a €3.9M series A funding round that will see the company scale its platform for early-stage Alzheimer’s diagnosis to the US and Asia. The round was jointly-led by Industrifonden and NordicNinja VC, with Combinostics representing NordicNinja’s fifth deep tech investment over the past 6 months.
“I would like to thank Industrifonden and NordicNinja for demonstrating their trust in Combinostics with this investment, as well as our previous early-stage angel investors,” said Combinostics CEO Lennart Thurfjell. “Industrifonden has a proven track record for supporting companies throughout their journeys, and NordicNinja has strong ties with Asia – Japan in particular – a very important target market for our technology. We will use this investment to ramp up R&D, build our US operations, and expand in Asia. We currently have a partner working on regulatory approval in Japan, and we are looking for a partner in China.”
There are no effective treatments for neurodegenerative diseases like Alzheimer’s, but early-stage diagnosis combined with symptomatic treatment and lifestyle intervention can make a drastic difference to quality of life in later years. A vast amount of heterogeneous data is collected during the diagnostic workup, so it can be challenging for healthcare professionals to interpret and identify relationships that exist between different data sets. Combinostics provides an intuitive and holistic view of the patient’s data, highlighting important relationships early on and supporting early diagnosis.
“Our investment in Combinostics represents another step for our long-term commitment to health tech innovation. The company joins a family of startups that are improving health outcomes globally by building category-leading products,” said Industrifonden Investment Manager Patrik Sobocki.
“Combinostics has built a product platform from cutting-edge research that will enhance neurology departments worldwide,” he continued. “Their platform supports improved diagnostic accuracy and treatment choice by combining all relevant biomarkers with advanced brain image quantification, leading to improved health in neurology patients.”
“Combinostics has built an amazing platform that supports doctors in holistically making diagnostic decisions that will significantly help patients in later life, and I believe that such platform is needed in aging societies such as those found in the Nordics and Japan,” said NordicNinja VC Managing Partner Shinichi Nikkuni. “They have a great team with the capability to build further traction on top of their already-solid partnership base. We’re happy to join their journey and help push them further,” said NordicNinja VC Managing Partner Marek Kiisa.
For additional information
Founded in 2014 in Tampere, Finland, Combinostics’ mission is to support healthcare professionals in the diagnosis and treatment of neurodegenerative diseases with the overall goal to improve patient quality of life in later years. Our cNeuro platform combines imaging data with clinical data and provides an intuitive and holistic view of patient data that highlights important relationships early on and supports early diagnosis. Our users include radiology and neurology departments in the EU, US, Japan, and South Korea. For more information, visit combinostics.com
+46 730 699057
NordicNinja VC is a €100 million venture fund set up to support Nordic and Baltic scale-up companies as they enter the technology business ecosystems in Japan and across Asia. The fund is backed by the Japan Bank for International Cooperation, Honda, Panasonic, and Omron. The fund and its “Ninja Intelligence” bring contacts, knowledge, and financial resources for companies ready to engage with Asian markets. For more information, visit www.nordicninja.vc
Managing Partner, NordicNinja VC
+372 502 0850
Managing Partner, NordicNinja VC
+372 5885 5280
Industrifonden is a Nordic venture capital investor based in Stockholm. We invest in emerging science and technology ventures that have a meaningful impact on society. Our portfolio includes ventures like Amra, Adaptive Simulations, Crosser and NuvoAir. For more information, visit www.industrifonden.com.
Investment Manager, Industrifonden
+46 70 439 67 73