MultiplexDX raises over €7 Million investment for personalized breast cancer treatment
MultiplexDX, a company associated with scientist Pavel Čekan, is celebrating a tremendous success in securing an investment of over €7 million. The investment will be dedicated to personalized breast cancer treatment. This exciting news was reported by Forbes, which conducted an interview with Čekan.
According to Čekan, the funds raised by the company will be used for testing and personalized treatment directly on breast cancer patients. The goal of their test is not only to determine the correct subtype of breast cancer or the appropriate molecular profile but also to transform all the data and information into a form capable of prioritizing treatments.
Experience with COVID tests production
Pavol Čekan is a Slovak scientist specializing in biochemistry, molecular oncology, and biology. In 2016, he founded the biotechnology startup MultiplexDX, which has made significant advancements in cancer diagnostics. In 2019, MultiplexDX received a prestigious €2.5 million grant from the EIC Accelerator.
Čekan has gained recognition for his involvement in the production of a PCR test for detecting SARS-CoV-2. He is also a member of the Scientific Advisory Board of the Slovak Ministry of Health and has received several prestigious awards that highlight his scientific and business achievements.
The company recently concluded a substantial European EIC Accelerator grant, securing €3 million for oncology diagnostics research. Experts from the field have noted that the diagnostics are revolutionary and have great potential to change the approaches to breast cancer diagnosis and treatment.
Looking ahead
Čekan emphasizes the importance of their test in determining the most appropriate, effective, and personalized treatment for breast cancer patients. However, their test is currently used only as a second opinion. The company is currently focusing on obtaining clinical validation which is required for their test to be used as the primary diagnostic tool.
According to Čekan, there is limited interest in Slovakia, which he believes is a missed opportunity to cure many cancer patients. Earlier in June, Pavol Čekan announced on social media the potential relocation of MultiplexDX International to the United States.
Despite the discussions about potential relocation, the prospects of establishing a centralized laboratory in Bratislava for diagnostics catering to both international and domestic patients, holds substantial potential, according to Čekan. Not only would it bring substantial revenues and tax contributions, but it would also create opportunities for skilled Slovak scientists to contribute to their homeland.