Reccan AB - raises 8.6 M SEK in new share issue
Lund, Sweden – Reccan AB has successfully completed a new share issue of 0,76 million Euro (8.6 million SEK), resulting in a post-money valuation of 90 MSEK. The capital will be used to finalize the last steps towards obtaining CE marking for the company's groundbreaking test enabling early diagnosis of pancreatic cancer, a form of cancer with high mortality.
Reccan is admitted to SmiLe's incubator program.
The absence of early symptoms makes early diagnosis of pancreatic cancer challenging. To improve the prognosis for these patients, Reccan has developed an effective immunological test. Based on Professor Roland Andersson's nearly 40 years of research at Lund University and surgical experience, the test analyzes five specific biomarkers in simple blood samples.
Reccan's Immunoassay test, with the help of the company's software, provides results with high specificity and sensitivity. It is intended primarily for individuals at risk, offering them the opportunity for regular tests. Risk groups include those with hereditary risk and those who develop diabetes late in life.
Roland Andersson, also the company's founder, has a vast network in surgery and research on pancreatic cancer, which is expected to facilitate further development.
"We are determined to change the high mortality rate in pancreatic cancer with our test, which can detect the cancer early enough to enable treatment. Our plan is to launch Reccan Immunoassay in 2025 after clinical studies. The support from SmiLe in our business development means a lot to the company," says Malin Bornschein, CEO of Reccan.
"It's incredibly exciting to welcome another company based on world-leading research to the incubator program. Reccan's test has the potential to save many lives, which is our ultimate ambition. Pancreatic cancer often results in a short life expectancy after detection, so it is crucial that a simple diagnostic test comes to market," says Ebba Fåhraeus, CEO of SmiLe Incubator.
Sandberg Development and Strandberg Kapitalförvaltning participated in the current capital raising round, along with existing owners and the company's CEO and CTO.
For more information, please contact:
Ebba Fåhraeus, CEO, SmiLe Incubator,
ebba@smileincubator.life,
+46 734 000 433
or
Malin Bornschein, CEO, Reccan,
malin.bornschein@reccandiagnostics.com
+46 729 643 334
Link to pressrelease: New SmiLe Company in Cancer Diagnostics Raises 0,8 million Euro (smileincubator.com)
In Swedish: Nytt SmiLe-bolag inom cancerdiagnostik reser 8,6 MSEK | Medicinsk Access
