Resistell raises CHF 8.5 million to complete clinical trials for antibiotic susceptibility testing: interview with CEO Danuta Cichocka

19.12.2022 16:30, Morgane Ghilardi

Resistell AG closed a first tranche of its Series B financing round with CHF 8.5 million raised from new and existing investors. The Venture Kick and Venture Leader alumn, which was also voted a TOP 100 Swiss Startup multiple times, is a leader in phenotypic nanomotion technology for measuring living cells. We asked CEO Danuta Cichocka about the meaning of this milestone and the challenges biotech Swiss startups are currently facing.

Resistell is a clinical-stage company with its own testing device developed by a highly skilled, cross-functional team of microbiologists, engineers, and data scientists. In April 2022, Resistell launched an R&D project to assess the applicability of its antibiotic susceptibility test (AST) to a novel antibiotic with independent funding provided by Pfizer.

The first clinical study for bacteremia and sepsis in the University Hospital in Lausanne (CHUV) is halfway through. The clinical data shows a massive impact on time to result and around 95% accuracy with the gold standard. A second multi-site study with three European hospitals has just started.

Resistell raised CHF 8.5 million from investors, including EIC Fund, TRUMPF Venture, OCCIDENT, Zürcher Kantonalbank, Launchpad, and private investors. The company will use the funds to complete its clinical trials for antibiotic susceptibility testing (AST) and for market entry of its R&D device Phenotech Research. The company is looking to complete its Series B with a second closing in 2023.

"Resistell’s platform is demonstrating it can solve tough diagnostic challenges," said CEO Danuta Cichocka. "Our diagnostic device Resistell Phenotech will accelerate antibiotic susceptibility testing, providing an innovative solution for one of the world’s largest unmet medical needs.” 

Antibiotic resistance (AMR) is one of the top 10 global public health threats facing humanity according to WHO. With antibiotics becoming less effective as drug resistance spreads globally, diagnostic solutions that allow for targeted, narrow-spectrum treatment are urgently needed.



Resistell's Phenotech device for rapid antibiotic susceptibility testing

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INTERVIEW WITH CEO DANUTA CICHOCKA

How does this funding help you realize your vision? What milestones would you like to reach in the near future?
The funds from Series B will support IVDR certification of the diagnostic product for bacteremia and sepsis, further technology development, and commercialization of our research device, Phenotech Research. We will also keep on investing in partnerships with industry, medical centers, and academia for various indications with the goal of attracting an industrial partner with whom we can ultimately exploit the full potential of Resistell’s nanomotion technology platform.

What are the biggest challenges and opportunities for biotech/medtech startups in Switzerland?
The COVID-19 pandemic and war in Ukraine have had a huge impact on the global financial markets. Swiss startups, especially those in a growth phase, compete for global financial resources and thus are sensitive to global instability. In addition, we face changing regulatory pathways, from IVD to IVDR. Closing a large financing round in these unstable times is a huge opportunity. The company has reached a maturity stage to make the most of these precious resources.

What has the COVID pandemic and/or economic instability meant for your company's development and the sector more broadly?
The start of our first clinical trial overlapped with the COVID pandemic. It was very difficult to recruit patients back then. Thanks to extremely close collaboration with the medical team at the University Hospital in Lausanne (CHUV), we were able to overcome this obstacle and the clinical trial is on track now. 

Fundraising is also very challenging nowadays. In times of economic instability, there is more selective pressure on startups. Probably some will disappear, and only the fittest will survive. We are very proud of closing the first tranche of series B. Given the global situation, it is a huge success. We are well set to achieve the next milestones.
 

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Resistell was awarded CHF 130,000 by Venture Kick in 2018. As Resistell's CEO has said, "Venture Kick played a very big role, as we met four of our eight seed investors through the program’s jury sessions. Thanks to VK we probably closed the seed round sooner than we expected." In 2022, the startup was featured in the 15 Global Challenges video series, which was produced to celebrate 15 Years of Venture Kick and highlighted the remarkable achievements of its alumni.

 
In 2019, the company was chosen to participate in the Venture Leaders Life Sciences program (now divided into the Venture Leaders Medtech and Biotech programs), which took entrepreneurs on an investor roadshow in Boston. As Dr. Cichocka explained after the trip, the program provided "many useful inputs to immediately implement in our action plans and a renewed sense of how many borders our startups can breach," while also helping to attract investors.

The company also made the TOP 100 Swiss Startup ranking every year from 2019 to 2022.


Resistell's CEO, Dr. Danuta Cichocka, speaking at the TOP 100 Swiss Startup Award 2020