Resistell receives €2.5M EIC Accelerator grant and equity financing offer from EIC

03.07.2020 15:00, Guillaume Tinsel

Resistell AG, a 2019 TOP 100 Swiss startup developing world’s fastest phenotypic antibiotic susceptibility test was selected for funding under the European Innovation Council (EIC) program in the latest funding round. Resistell’s project RAPID-SEP-AST will receive up to €2.5M grant and additional equity financing from EIC Fund. SEPSIS is a life-threatening reaction to infection with 48.9 million cases and 11 million related deaths worldwide. Resistell’s breakthrough patented technology delivers AST diagnostic results in hours instead of days, allowing clinicians to halt sepsis by providing the right treatment to the patient on time. Venturelab asked Dr. Danuta Cichocka, Resistell CEO, about Resistell's plans for the future.

Before the coronavirus disease 2019 (COVID-19) pandemic, Antimicrobial resistance (AMR) was already one of the biggest global health challenges. In many countries, patients hospitalized with COVID-19 receive antimicrobial therapies as part of the standard clinical care package. Excessive use of these powerful medicines triggers the development of multi-drug resistance. Global action is urgently needed to prevent COVID-19 from casting a long shadow over antimicrobial resistance. To reduce empirical antimicrobial treatment, it is essential to rapidly determine which antibiotics the pathogen still responds to. Resistell has developed an extremely fast phenotypic antibiotic susceptibility test (AST) based on the measurement of vibrations of living bacteria using nanomechanical sensors. The cutting-edge technology reduces the AST time-to-result from several hours or days to less than two hours. Thanks to that patients can be treated with the optimal medication from day one.

Dr. Cichocka, Resistell's team just received a EUR 2.5M million grant from EIC Accelerator, Congratulations! How will this help achieve your vision?
EIC Accelerator is a fantastic support program for highly innovative start-ups that are needed more than ever during the coronavirus pandemic. This funding will help us mitigate the financial and clinical risks that have emerged because of COVID-19. Thanks to this project, we will be able to carry out clinical validation in at least three different hospitals in Switzerland, Germany, and Denmark. This will not only accelerate and facilitate the market entry thanks to extensive clinical evidence but also allow the continuity of performance evaluation study in highly unpredictable times of global pandemic.

You won Venture Kick in 2018. How did Venture Kick help you lay the foundation for your growth and today's achievement?
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.

You also in Venture Leaders Life Sciences in 2019. How did it leverage your fundraising strategy?
In Boston, I received a clear confirmation of the global need for Resistell’s solution for antibiotic susceptibility testing. Coronavirus pandemic also increased public awareness of antimicrobial resistance problems. The roadshow in Boston also strengthened my understanding of what it means to ‘think big, think global!’ My presentation immediately triggered questions such as: ‘What other indications could you potentially address? What is the design of your clinical trials and where are you planning to place them? Have you already considered the U.S. as a market?' Now, U.S. market entry is on my roadmap. Resistell also started to attract investors from outside of Switzerland.

Resistell has received financial support and coaching by Venture Kick in 2018, participated in the Venture Leaders Life Sciences 2019 program, and was selected among the TOP 100 Swiss Startups the same year.