numares completes another financing round

Regensburg 26.07.2016; Original Press release of numares AG.

numares AG, a company that is based at BioPark Regensburg and operates branches in the United States, develops and markets integrated test systems for human diagnostics based on nuclear magnetic resonance spectroscopy (NMR). The diagnostic tests interpret patients' individual metabolism profiles using numares' proprietary MGS technology. The results of these tests provide valuable insights into the origin, extent and seriousness of diseases. As evidence to the cost efficiency of numares' NMR-based test systems, a broad range of different tests can be conducted on the very same system – a fully automatic process with high throughput. The company employs about 50 people. In the past two years, more than 900,000 tests were billed and 16 AXINON® test systems were sold.

Ilse Aigner, Bavaria's Minister of Economic Affairs, said: "We are really glad that with numares we support an innovative high-tech company from Bavaria. The company is in the best-possible position to succeed in the global diagnostics market with its promising technology. Bayern Kapital, the venture capital organization of the state of Bavaria, has stood by numares from the very start. With the Wachstumsfonds Bayern, we are now helping numares to carry out its international expansion plans - as a result cutting-edge technology made in Bavaria can be used around the world."

Dr. Georg Ried, Managing Director of Bayern Kapital, added: "The Regensburg-based diagnostic experts at numares have developed a highly innovative technology that has tremendous growth potential. It enables physicians, hospitals and laboratories to gain a broad range of information about the diseases and risk factors of their patients. Tapping new markets represents a consistent step in the further growth of numares. We are happy to assist the company by providing funds from the Wachstumsfonds Bayern."

Dr. Volker Pfahlert, Executive President of numares AG, also expressed his satisfaction with the decision. "We are really happy about the successful conclusion to this round of financing," Pfahlert said. "These funds represent a tremendous vote of confidence in numares' technology. After successfully introducing our technology to the U.S. market, we are now working intensely on the commercialization of numares' test systems in Europe and Asia. This effort has already produced some initial and important successes. We are also focusing our work on expanding our test pipeline to increase the therapeutic spectrum." The tightly regulated market in Europe and the specific conditions of the Asian market represent the next challenges that the company must face in its efforts to establish its diagnostics technology in laboratory medicine.
 
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