Marcelo Kauffman, Dolores Morón and Federico Scagliotti They founded the biotech Limay Biosciences in 2020. This startup is dedicated to the development of solutions molecular diagnosis and its goal is to “bring essential diagnostics to more people, faster, significantly contributing to the improvement of global health,” as Kauffman explained.
In this short journey since its launch, the company has now recorded a milestone that will give a strong boost to its developments and regional expansion: it received a strategic investment of US$550,000 from CITES, the Center for Technological, Business and Social Innovation of the Sancor Seguros Group. And this contribution is complemented by another US$50,000 from the investment fund and company builder SF500.
As reported, with this investment Limay Biosciences You will be able to accelerate your research and development effortspromoting the creation of innovative diagnostic solutions, especially the development of detection of antimicrobial resistance.
This capital inflow marks a milestone in the company’s mission to democratize access to accurate and affordable diagnostics globally.
In turn, it will allow Expand your operations to new markets in the regionbringing advanced diagnostic technologies to more communities, as well as perfecting existing technologies, improving their accuracy, speed and accessibility.
They prepare to launch a dengue test
The investment will also be used to incorporate new talent to strengthen capabilities in all areas of the company and will allow the establishment of new strategic collaborations in the health and technology ecosystem.
Among the most advanced projects that the company has been developing is the dengue test. This is the first health product that Limay Biosciences will launch on the market in the coming months and that it has been developing for more than 2 years.
It is currently in the production phase and seeks to revolutionize early detection of the virus through simplicity of use, where from a blood sample, and in less than two hours, the patient obtains their result, thus shortening response times.
“This investment not only validates our approach, but provides us with the necessary resources to amplify our impact,” declared Marcelo Kauffman, CEO of Limay Biosciences. He added: “It will allow us bring essential diagnostics to more people, fastercontributing significantly to the improvement of global health.”
Nicolás Tognalli, founder and managing partner of CITES, commented: “We see in Limay an extraordinary potential to revolutionize the field of molecular diagnostics. Its innovative technology and its vision of make diagnostics accessible globally “They align perfectly with our mission of promoting technological solutions with social impact.”
The key role of CITES in supporting entrepreneurs
It should be remembered that CITES is the first incubator for scientific-technological projects of Latin America focused and specialized in investing and developing high-tech startups with global reach.
“When you see that there are hundreds of scientists who see their dreams cut short due to lack of capital investment, you can’t look the other way. At CITES we take the responsibility of changing this story. To do this, we needed to: raise awareness about the issue, create a regulatory framework and generate new investors,” commented Nicolás Tognalli, director of CITES.
CITES organized events to raise awareness on the issue, with all possible actors, which allowed the ecosystem to begin to develop and favored the sanction of the Entrepreneurial Capital Law.
With the regulatory framework in place, developed its CITES I Financial Trustthe first publicly traded entrepreneurial capital vehicle in Argentina. The next step was go out to call investorsincluding those of regional relevance, such as the Inter-American Development Bank, which gave the initiative a seal of quality to attract other private investors.
In July 2020, the CITES I Trust was listed on the Buenos Aires Stock Exchange, with more than $24 million in private investment offering. “Today, the entrepreneurial ecosystem is vibrant in Argentina, there is entrepreneurial capital financing and we have already financed more than 15 new scientific-technological-based companies. Today scientists can make their dreams come true,” Tognalli added.
Source: Ambito
