Pharma 5.0

ArgusEye closes €2.8m funding to accelerate bioprocessing

Published: 13-May-2024

The funding will support the development of the company's sensor system platform, Auga, which assists the efficient quantification of mAbs

ArgusEye, a provider of innovative sensor solutions for real-time monitoring of biological systems, has announced the close of its funding, raising EUR €2.8m, bringing the total raised by the company to €3.45 million.

The funding was led by Voima Ventures, a Nordic early-stage investor that specialises in supporting science-based solutions, and co-led by existing investor Eir Ventures, a Scandinavian life science venture capital fund, following its investment into ArgusEye’s seed funding.

The investment will support the continued development of the Company’s sensor system platform, Auga, designed to accelerate biotherapeutic development and manufacture.
Established in 2017 by Erik Martinsson and Daniel Aili, ArgusEye develops novel sensors to enable real-time monitoring and analysis of biological systems and processes. Leveraging 15 years of research, Erik and Daniel initiated their partnership at a laboratory in Linköping, Sweden, developing ArgusEye’s localised surface plasmon resonance (LSPR) technology, which uses gold nanoparticles for precise and targeted protein measurements, and formed the basis of ArgusEye’s technology. 


AugaOne for accelerated detection of mAbs

In traditional biopharmaceutical manufacturing, quality control involves labour intensive remote testing, leading to significant delays in defect detection. Introduced in March 2024, the AugaOne is the first product in the Company’s sensor system platform, Auga, and is specifically adapted for downstream processing to increase efficiency and intensify process development to accelerate detection and quantification of mAbs.

The investment will enable ArgusEye to expand the Auga platform to support upstream bioprocessing and formulation of a wide range of target molecules, transforming biotherapeutic development and production.
Erik Martinsson, CEO at ArgusEye, said: "As ArgusEye embarks on its scale-up phase, our focus is twofold: expanding our market footprint geographically and diversifying our product offerings to encompass the entire pharmaceutical process chain, from upstream cell growth to downstream purification and late-stage formulation as well as GMP production. This strategic approach aligns with our commitment to deliver cutting-edge solutions that address the evolving needs of the biopharmaceutical industry and our vision to enable a more sustainable and democratic reach of biomedicines, transforming biopharma manufacturing through real-time inline quality control."

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