GHENT, BELGIUM, Trinean announced that the company has secured 2.7 million euro ($3.6 million) of growth financing provided by its existing investors.
Trinean NV today announced the appointment of Philippe Stas as it's new CEO, succeeding Dr. Marc Zabeau, who remains a member of the board of directors. Simultaneously, Trinean announced that the company has secured 2.7 million euro ($3.6 million) of growth financing provided by its existing investors.
"We are delighted to have Philippe on board to help drive the value of Trinean's molecular spectroscopy solutions," commented Dr. Gaston Matthyssens, chairman of the board and managing partner at Vesalius Biocapital. "We would like to thank Dr. Marc Zabeau for his outstanding contribution to the company over the past 5 years, supporting the company since it spun out from the University of Ghent, and for his continued commitment to the company as a board member."
Prior to joining Trinean, Philippe Stas was CEO of Algonomics NV, a Belgium based biotech service provider, where he ensured the growth and subsequent trade sale of the company to Lonza Group AG (SIX Swiss Ex:LONN) in 2009. Since then, he was the director and main driver of Lonza's Applied Protein Services division in Cambridge (UK). Earlier, Philippe Stas held positions at Perkin Elmer and Keygene. Philippe holds a M.Sc. in Bio-engineering (Brussels Univ.), a M.Sc. in Information Technology (Hasselt Univ.), an MBA (Univ. of Liverpool) and AMP at the Vlerick Management School.
Philippe Stas, CEO of Trinean: "It is a pleasure to join this dynamic team, delivering a unique molecular spectroscopy platform for automated and advanced analytics."
Trinean raised 2.7 million euro to further accelerate the development of its premium analytical platform, comprising highly accurate spectrophotometry instruments, state-ofthe-art analytical software, proprietary disposables for standardized micro-volume sample analysis and highly flexible lab-automation tools.
"The continued support of Trinean's first-in-class investors, allows us to accelerate the development of the company and to unveil its full potential", Philippe further comments, adding "Trinean will strongly expand its sales, marketing and distribution channels". The first closing of this financing round was led by the Trineans' current investors Vesalius Biocapital, Capital-E, Baekeland II Fund and Fidimec.
Trinean is a Belgium based instrumentation company, bringing micro-volume molecular spectroscopy to the next level by combining best in class analytical software with a highly standardized read-out platform.
Founded in 2006 as a spin-out of the University of Ghent, Belgium, the company developed a high throughput spectrophotometer, the DropSense96, with unprecedented capabilities, using microfluidic chips for standardized sample analysis (the DropPlate-S and DropPlate-D+ for single and dual read-outs). The Trinean platform is complemented with a software toolbox (including DropControl, DropQuant, cDrop) for improved data interpretation and lab-automation. Entering the market end of 2009, the DropSense96 is currently employed globally at over 100 sites.
For more information about Trinean, visit www.trinean.com
About Vesalius Biocapital
Vesalius Biocapital Partners is a European venture capital firm that focuses on the creation and growth of pan-European early-stage life science companies. The managed Vesalius Biocapital funds invest in areas with a high unmet medical need and a significant profit potential: new therapeutics, cutting-edge medical devices, innovative drug delivery technologies and diagnostic tests and instruments with a high utility level. The expertise of the team ranges from extensive investment and exit experience to operational experience in general management, business development, product development, IP, and finance of start-ups and more mature life science companies.
For more information, see www.vesaliusbiocapital.com
Capital-E is an early stage venture fund focused exclusively on micro- and nanoelectronics
as well as new materials related ventures in Europe. Through its entrenched relationship with IMEC, the largest independent research centre in micro- and nanoelectronics in Europe, the fund and its ventures can directly rely on the support of over 1,600 specialised scientists and engineers, as well as leverage on IMEC's 500+ worldwide industrial partners. The fund is managed by an independent team with a balanced mix of entrepreneurial, industrial and VC experience.
More information can be obtained at www.capital-e.com
About Baekeland II fund
In 2005 the partners of the Ghent University Association, together with Fortis Private Equity Belgium, KBC Private Equity, Ethias, Volksvermogen and the ARKimedes Fund, established the Baekeland Fund II, with a capital of EUR 11.1 million. Baekeland Fund II is building on the positive experience of the first Baekeland Fund. Baekeland Fund II invests mainly in high-tech companies that have grown out of research labs at Ghent University, Hogeschool Gent, Arteveldehogeschool or Hogeschool West-Vlaanderen. Baekeland Fund II is operationally managed by the Technology Transfer Department of Ghent University, assisted by investment managers from KBC Private Equity and Fortis Private Equity Belgium.
For more information: www.baekelandfonds.be
FIDIMEC NV is the investment vehicle of IMEC, supporting the creation and growth of its spin-off companies. It is FIDIMEC's mission to enable the growth of the start-up from the earliest phase on to become a successful company
For more information, see www.fidimec.com