Two million Swiss francs for an allergy-detecting device

Abionic, an EPFL spin-off, has just brought its first round of financing to a close and was selected yesterday by Red Herring as one of Europe's 100 most innovative companies. Using only a single drop of blood, the system developed by the company can pinpoint allergies in just 20 minutes. The device could be available by 2013. With its quick and painless allergy detection and analysis system, Abionic is on a roll. This spin-off of EPFL's Biomedical Imaging Laboratory has just obtained two million Swiss francs from private and institutional investors, including MedHoldings, Polytech Ventures, Blue Ocean Ventures, Fongit Seed Invest and the Business Angels Switzerland. This funding will allow the company to finish developing its system and aim for commercialization next year. Yesterday, the young company selected as one of Europe's 100 most innovative companies in late April by Red Herring, a US magazine that is considered a reference for many venture capitalists.