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June 6, 2014 2014 Business Champtions: Innovation (tie)

CyVek readies biochemical testing platform for market

CyVek CEO and founder Per Hellsund stands by his company's new CyPlex System, a biochemical test machine that allows researchers to measure certain molecules in blood and other biological samples to help detect diseases. The machine, shown below and to the right, is heading to market and tests samples more quickly and effectively than technology that's currently available.
CyVek co-founder and chief technology officer Marty Putnam (right) shapes the company's product development strategy and directs science and technology implementation.
By John A. Lahtinen

In early 2010, Wallingford start-up CyVek pitched a product concept for a disruptive technology that measures proteins and biomarkers to help diagnose diseases and improve the quality and timeliness of drug research.

The proposal, based on a perceived market need, was well-received and immediately funded by a group of angel and venture investors, including Connecticut Innovations, which has backed CyVek to the tune of nearly $2 million over the last few years.

Now, in its fourth year, the biochemical testmaker is on the verge of launching its first commercial product, the CyPlex System, an immunoassay test that allows life science researchers to identify and measure certain molecules in biological samples, like blood, to help detect diseases such as cancer or complex organ ailments of the heart, brain, kidney, liver, or immune system.

The CyPlex System consists of a disposable test cartridge and a compact bench-top analyzer. The user simply loads test samples on a CyPlex cartridge, inserts the cartridge into the analyzer, and hits the “go” button. Software analyzes results within an hour. In addition to the ease of use and quick results, says Per Hellsund, CyVek's founder and president, the start-up's technology provides better accuracy and precision, while utilizing very small sample volumes.

Unlike most molecular testing, Hellsund explained, immunology-based tests have witnessed very little evolution over the last 30 years, with existing technologies steeped in labor-intensive and often costly procedures, requiring three to five hours and 25 to 50 manual steps to process a test. Most current testing methods also compromise data quality when measuring multiple biomarkers concurrently.

“CyVek's approach offers competitive advantage as it is based on a proprietary technology and not process improvements,” Hellsund said. “The simplicity, power, speed and flexibility of CyVek's revolutionary new platform will enable researchers and clinicians to achieve major advancements in protein research and diagnostics.”

As a result of its rapid technical progress, CyVek decided to significantly ramp-up its commercialization efforts over the last 12 months, creating a sales and marketing team and hiring a new chief operating officer, Bill Dubiel, to lead the company's global commercialization efforts. Previously, Dubiel served as sales vice president at Roche Tissue Diagnostics.

“CyVek has developed a unique immunoassay system that improves quality, enhances productivity and controls the cost of producing diagnostic results,” said Dubiel. “These are the key ingredients of success in the healthcare model today. Our approach will provide a flexible and interactive experience to the customer, one that focuses on the quality and reliability of results.”

On the strategic front, CyVek recently entered into a partnership with Minnesota-based Bio-Techne, the parent company of R&D Systems, a provider of antibody and protein chemicals to life science/diagnostic companies. As part of the deal, Bio-Techne has committed to acquire CyVek if the company meets certain performance milestones.

Hellsund says it's a perfect match for CyVek. In addition to providing further credibility to CyVek's technology vision, the partnership expedites the company's biology-related research and development efforts, allows CyVek to target and access high-value customers, and gives the company a global footprint in terms of a distribution channel.

“The impending acquisition of a four-year-old start-up company by a reputed worldwide industry leader like Bio-Techne is exciting, impressive and a testament to the value of what we have created,” Hellsund said.

There are a number of factors driving Hellsund's passion for CyVek, not the least of which he says is getting to work with a talented group of people who continue to innovate and deliver on the company's mission.

“We have had the opportunity to build something from the ground up that is truly revolutionary and will have a significant impact in our industry,” Hellsund said. “The CyPlex technology will help to improve health care by empowering researchers and clinicians to develop better drugs, treatments and diagnostics.”

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