Profos raises €5 million

New York, Aug. 23 - Profos AG said it raised €5 million in the first closing of its current financing round.

Participants included Bio Fund Management Ltd. of Helsinki, Finland, as the lead investor and two existing shareholders, Danisco Venture A/S of Copenhagen, Denmark, and Capital Stage AG of Hamburg, Germany.

Profos, a Regensburg, Germany-based biotech company developing products for the capture and detection of bacteria and bacterial components (endotoxins) based on advanced, proprietary phage-ligand technology, will use proceeds to complete its existing product portfolios and to advance commercialization.

Profos is working on applications in two areas: testing food for organisms such as salmonella and listeria, which cause food poisoning, and detecting and removing endotoxins, a major cause of sepsis.

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