EIT Health-backed startup S4DX has announced the successful closing of €5m in series A fundraising for its “digital human blood sample fingerprint”.
S4DX has developed the “digital human blood sample fingerprint”, which is a complete data-picture of all quality aspects for human blood samples from collection to arrival in the lab. Unlike current manual processes of taking blood, the data is collected and instantly reported into the laboratory whilst the patient is still present, allowing for any errors to be identified and corrected immediately.
This innovation will not only increase the accuracy of the data, but also avoid the need for repeat patient visits. Through ongoing support from the EIT Health programmes Gold Track and Bridgehead, the team also received access to strategic mentoring, finance, investors, and the largest European healthcare innovation network.
Innovating blood sampling
The €5m funding comes from private investors including SARSTEDT AG & Co. KG, as well as the EIC Fund, established in 2020 by the European Commission for direct equity investment in breakthrough technologies, and will be used to further accelerate the market entry of S4DX’s innovative blood sampling system.
Dr Hans Maria Heyn, CEO and co-founder of S4DX, said: “As many as three in four medical decisions are based on diagnostic results – often blood samples. Currently, this process is being managed manually which can lead to errors and can cause many issues including slow diagnosis, repeated tests on the patient, and wasted resources.
“We need to revolutionise this crucial but underdeveloped area of the healthcare value chain to bring innovation where it can have instant and substantial impact.”
S4DX was formed in 2018 as part of the EIT Health Wild Card programme, which focuses on building game-changing life science companies to break new ground in health by challenging the status quo in areas of high unmet need.
“We are immensely proud of all that the S4DX team have achieved, including the latest funding round and attention of private investors as well as the EIC. As our first ‘Wild Card’, it is encouraging to see the swift progress that has been made since we first met them just a few short years ago. We look forward to continuing to support S4DX in their journey to market,” Jorge Juan Fernández García, Director of Innovation, EIT Health.
To read more about S4DX, please visit wildcard.eithealth.eu/case-study/smart4diagnostics.