27. October 2023

RAYDIAX secures 3.5 million euros in fresh capital to develop a therapy assistance computer tomograph in the fight against cancer


Magdeburg, October 26, 2023 – RAYDIAX, a spin-off of the STIMULATE research campus/
from the Otto von Guericke University Magdeburg, is developing an image assistance system based on the principles of computer tomography for use in minimally invasive cancer treatments. The company is securing 3.5 million euros in fresh capital to advance the development of the preclinical prototype and prepare for market entry in Europe and the USA. A seed round of €2.4 million is led by HTGF and bmp Ventures with the IBG funds. In addition, RAYDIAX will receive 1.1 million euros in funding through an increase in EXIST research transfer funding from the Federal Ministry for Economic Affairs and Climate Protection (BMWK).

Dr. Thomas Hoffmann, CEO and co-founder of RAYDIAX: “We are pursuing the goal of sustainably strengthening cancer therapy through high-tech medical technology. Minimally invasive image-guided procedures offer numerous advantages for patients. With our targeted image assistance system TACT, we are uncovering a completely new potential that will significantly expand the range of applications of these very gentle procedures, which will particularly benefit patients for whom treatment today appears to be too risky. With the completion of the financing round, we are in an optimal position to further develop our system in close coordination with our clinical partners, to accelerate market entry and to drive forward company growth.”

Minimally invasive therapies in cancer care
Cancer is the most common cause of death worldwide and is even number 1 in wealthy countries. Open surgical therapies are often too risky and therefore unsuitable for treating very old patients with poor general health. Minimally invasive therapies are a promising form of therapy for this patient group. In this type of therapy, millimeter-thin surgical instruments are pushed through the skin into the tumor while imaging. A local energy input ultimately leads to the death of the malignant cells. Due to the low degree of injury, patients can recover more quickly, hospital stay times are significantly shortened, thereby saving costs and additional treatment capacity is created.

Establishment of a new product category: therapy assistance computer tomographs
The particular challenge of this type of therapy is to place the instruments with sub-millimeter precision in a pre-planned surgical area in order to allow the energy input to take place in a targeted manner. With the TACT, RAYDIAX is developing a device for the first time that provides assistance with therapy planning, implementation and control within an integrated overall system. The requirements for the system were defined through numerous discussions with doctors in Germany and the rest of Europe. The imaging itself is based on the principle of X-ray-based computed tomography. The RAYDIAX system is also characterized by a minimized use of X-rays tailored to the operation, which means that patients are treated more gently and clinical staff can work more safely.

Dr. Jan Engels, Investment Manager at High-Tech Gründerfonds: “RAYDIAX’s development of the TACT is a clear look into the future of minimally invasive cancer surgery. It takes courage and great expertise to develop a highly complex large-scale medical product. The founding team of RAYDIAX combines exactly these characteristics and we see clear potential.”

Philipp Kopp, Investment Manager at bmp Ventures: “As a deep tech investor, what impressed us about RAYDIAX was the sound scientific basis of the approach and the outstanding technical know-how of the founding team. We see a clear medical need in interventional radiology, which the company addresses with its TACT system.”

Science transfer through long-term research funding
RAYDIAX is a spin-off from the Magdeburg research campus STIMULATE. The world-renowned research center for minimally invasive image-guided therapies offers the ideal environment for device and company development.

Prof. Dr. rer. nat. Georg Rose, Chairman of the STIMULATE research campus: “We are very proud that RAYDIAX, another high-tech medical technology company, has been able to spin off at the Magdeburg location. The basis for such developments is the constant research funding in the field of image-based medicine at the STIMULATE research campus over the past 10 years. I am particularly pleased that the team of five former scientists and research group leaders is now taking advantage of the opportunity to transfer the results of recent years into clinical application. We are very pleased that the long-term commitment of the Otto von Guericke University, the city of Magdeburg, the state of Saxony-Anhalt and the federal government makes such economic developments possible.”

Press Contact
Dr. Thomas Hoffmann, Managing Director RAYDIAX GmbH
+49 391 67 57027

The company was founded in 2022 and is headquartered at the STIMULATE research campus in Magdeburg’s Science Harbor. The scientific spin-off is a spin-off by scientists from the Otto von Guericke University Magdeburg. The foundation of the company was based on 3-year EXIST research transfer funding from the Federal Ministry for Economic Affairs and Climate Protection (BMWK), which was approved in 2021. The focus of technical development lies in both the hardware and software areas of computer tomographs.

About the High-Tech Gründerfonds
The seed investor High-Tech Gründerfonds (HTGF) finances technology start-ups with growth potential and has supported more than 700 start-ups since 2005. With the launch of the fourth fund, the HTGF has around 1.4 billion euros under management. The team of experienced investment managers and start-up experts supports the young companies with know-how, entrepreneurial spirit and passion. The focus is on high-tech start-ups in the areas of digital tech, industrial technology, life sciences, chemistry and related business areas. External investors have so far invested around 5 billion euros in capital in the HTGFP portfolio in more than 2,000 follow-up financing rounds. The fund has also successfully sold shares in more than 170 companies. The fund investors in the public-private partnership include the Federal Ministry of Economics and Climate Protection, KfW Capital and 45 companies from a wide range of industries.

Media contact
High-Tech Gründerfonds Management GmbH
Tobias Jacob, Senior Marketing & Communications Manager
+49 228 82300 121

About bmp Ventures/IBG Funds
bmp Ventures is a Berlin-based technology investor that, with 25 years of active investment activity, is one of the most experienced VCs in Germany. The track record includes ten managed VC funds and over 260 investments. bmp currently manages the IBG funds, the venture capital funds of the state of Saxony-Anhalt. The IBG provides investment capital to innovative companies with sustainable and above-average growth potential and headquarters/operations in Saxony-Anhalt.

Philipp Kopp, investment manager

About EXIST research transfer
EXIST research transfer is a funding line of the EXIST program of the Federal Ministry for Economic Affairs and Climate Protection (BMWK) to promote scientific start-ups. EXIST is managed by Project Management Jülich (PtJ). EXIST research transfer is intended to support founders at universities and research institutions in preparing to start a business and implementing particularly technically risky and complex development work, the results of which form the basis for an economically viable business start-up. Funding in the EXIST research transfer is open to topics and technologies. In 2022, approximately 33 million euros were approved as part of the EXIST research transfer funding line (Phase I).

Media Contact
+49 30 20199-411

About the STIMULATE research campus
At the STIMULATE research campus, interdisciplinary teams from clinics, companies and scientific institutions work hand in hand to research and develop solutions and technologies for highly innovative therapy and diagnostic procedures in image-guided minimally invasive medicine. The innovative medical technology is designed for specific applications to improve the treatment of cancer and vascular diseases. STIMULATE is a public-private partnership between the Otto von Guericke University Magdeburg, Siemens Healthcare and the STIMULATE association. STIMULATE is funded as part of the “Research Campus” initiative of the Federal Ministry of Education and Research, supplemented by funding from the European Regional Development Fund (ERDF) in Saxony-Anhalt.

Media contact
STIMULATE research campus
Dr. Jasmin Lother
+49 391-67-57276