Portuguese “200M Co-investment Fund” and the Sweden corporate “Boule Diagnostics” invest together € 10M in Biosurfit

Biosurfit is the first Portugal based startup to benefit from the 200M Fund investment, in a partnership with Boule Diagnostics, a Sweden based company that develops, manufactures and sells complete blood cell counting (CBC) systems. The agreement was signed on December 14th.

With EUR 5 million invested by Boule and another EUR 5 million by 200M, Biosurfit is raising a total of EUR 10 million in capital to support the growth of the current business into different worldwide markets and to continuously research and develop the pipeline of products associated with the existing and new intellectual property of the company.

Biosurfit is a Portuguese diagnostics company   based in Azambuja, with about 100 qualified workers, and focused on the development and manufacture of IVD (in vitro diagnostics) tests at the Point-of-Care with highly innovative proprietary technology. Biosurfit developed the Spinit® technology, the first and only, diagnostics system capable of performing the major PoC blood test modalities (hematology, immunoassays and clinical chemistry) on the same instrument, with results in only five minutes, without the need to use laboratories.

Boule is an experienced investor with a global presence and market leading position in some markets and is listed on Nasdaq Stockholm since 2011. Its experience in innovative investments in this area started in Europe, but more recently also reached US, South America and Asia.

The partnership with Boule also includes a global distribution agreement in the first phase, where the product will be commercialized through Boule’s organization and distribution channels in multiple countries. Furthermore, the partnership will evolve over time to include joint product development, collaboration in production and procurement based in Portugal.

The 200M Co-investment Fund is a Matching Fund that aims to foster Co-investment in high growth innovative startups in Portugal with qualified national or international private Co-investors and is managed by PME Investimentos.