Kreatech Diagnostics Raises €2 Million

Kreatech Diagnostics, a Dutch molecular diagnostics startup, has raised 2 million in new VC funding. Alafi Capital was joined by return backer LSP. The company also named Kees Moonen, former CEO of Green Cross Vaccine, as its new CEO.

PRESS RELEASE

Kreatech Diagnostics appointed Kees Moonen, MA, MBA as Chief Executive Officer and Daan Ellens Ph.D. as Chairman of the Supervisory Board.

Kreatech is a Dutch, Amsterdam based, biotechnology company focused on the development and sales of molecular diagnostics. Kees Moonen has 10 years experience in various management positions in the biotechnology and vaccine industry both in Europe and Asia. He started his career at Rhein Biotech NV and, till 2007, was CEO of one of the largest vaccine manufacturers in Asia, Green Cross Vaccine (Seoul, South Korea).

Following his appointment as CEO of Kreatech in September 2009, his first priority was to attract new capital, which resulted in the issue of new shares for Eur 2 million. Besides a new investor also existing shareholders LSP (Amsterdam, The Netherlands) and Alafi Capital (San Francisco, United States) participated in this financing round. Both LSP and Alafi are professional leading venture capital companies investing in innovative and growing ‘life sciences’ ventures.

“It is a privilege to be involved with Kreatech at this point in time. Kreatech has its own unique and worldwide patented technology to label DNA, RNA and proteins and is utilizing this technology to develop diagnostics that, for example, are being used in the screening and treatment of cancer patients. Kreatech products are successfully used by labs and hospitals worldwide. With the recent capital injection we can further expand the business and put Kreatech on the map”, says Kees Moonen, supported by the know-how built up by the experienced Kreatech team since 1990.

“Kreatech is ready for further growth. Again, a Dutch biotech Company making its mark as a professional player in the international biotechnology scene”, says Dr. Daan Ellens, recently appointed as Chairman of the Supervisory Board. Daan Ellens, Venture Partner of LSP, is also Chairman of the Supervisory Board of Prosensa (Leiden) and has an extensive network in the international biotechnology industry.

“Kreatech successfully developed from a typical research boutique to a commercial enterprise”, says Dr Rene Kuijten, serving on the Kreatech Board, General Partner of LSP and an initial investor.. “With this financing round and the experienced CEO Kees Moonen, Kreatech is positioned to optimize sales and distribution of its products”.

Kreatech Diagnostics Based in Amsterdam, The Netherlands, Kreatech Diagnostics is a molecular diagnostics company focused on the development and commercialization of DNA probes and nucleic acid labeling technologies that are utilized for diagnostics and research applications in the life sciences and healthcare industry, specifically cytogenetics, molecular pathology, and microarrays. Kreatech is positioned as the partner of choice for the world’s leading drug discovery, pharmaceutical, diagnostics and life sciences companies. Visit our website www.kreatech.com for more information.