Hiloprobe  AB has signed off on a partnership deal with a group of public and private stakeholders who have come together to back this high-potential startup. Hiloprobe is now complemented with much needed business expertise – as Mattias Pettersson from Northern Light Capital joins the board of directors, The company aims to launch their product for improved colorectal cancer diagnosis by 2020.

Hiloprobe is on a mission to personalize cancer diagnosis for one of the most common cancer types in the world. The team behind Hiloprobe is working on better outcomes for colorectalcancer patients to recieve quicker and more accurate diagnosis, and thus better and more efficient treatment.

In march 2017, this cancer startup drew a lot of attention when Line Olsson, CEO of  Hiloprobe, won the first place in the national Almi pitch contest at Åre Business Forum (link to press release in Swedish). Now, they have signed an investor deal totalling 6 million SEK.

From pitch winner to promising cancer diagnostic company

Chosing the right investement partner is not done over night, and the relationship between investors and the startup team has grown over time.

– We established contact with several of the stakeholders years ago – but it is during the last year that we’ve move on to more concrete discussions, says Lina Olsson.

She stresses the importance of developing good relationships with highly skilled people who can contribute with expertise and know-how over time.

– We chose these parters because they bring both much needed business skills, and funding, to support our company’s ongoing development. Now we have the resources to develop ColoNode as planned and we hope to be able to offer our product to patients by 2020, she says.

Hiloprobe’s product is called ColoNode and is a clinical tool for physicians to quickly and accurately analyse wheather cancer cells have spread to the patient’s lymph nodes. Colonode even reveals how agressive the cancer cells are in a certain tumour, supplying the physician with crucial information when deciding on further treatment. Read more about Hiloprobe on their portfolio page (link).

Solid scientific background for startup incorporated in 2016

The team of stakeholders backing Hiloprobe are also convinced that this enterprise can and will make a positive impact.

– We see a great medical need for Hiloprobe’s product and we are very much looking forward to following their development and continued success, says investment manager at Partnerinvest Norr, Mattias Eriksson.

Hiloprobe was incorporated in 2016 and the team of researchers behind the development of ColoNode consists of Sten Hammarström, Gudrun Lindmark, Marie-Louise Hammarström, Lina Olsson och Anne Israelsson.

– Lina and the team at Hiloprobe are dedicated and skilled in their field. Their solution is unique and will create new ways of effectively diagnosing colorectal cancer cases. For us it is a given to invest in local promising companies with exciting business ideas, says Mattias Pettersson, investment manager at Northern Light Capital.

Mattias Pettersson is also one of the new board member in Hiloprobe AB together with Ernst Westman and Thomas Busch. All three have abundant experience of business development within the life science and diagnostic area.


Text and photo:
Carolina Hawranek