Portfolion has made a HUF 160 mln investment in KPS, a medical biotechnology company that specializes in detecting cancer through the use of molecular means. The investment will allow KPS to gain the lead position in this highly specialized field by expanding its marketing, sales and business development operations and make the technology available on the international market. With the added funding, the number of tests conducted will also increase.
As one of Hungary’s leading medical biotech companies, KPS has pioneered molecular diagnostics for potential cancer patients. The molecular tests conducted on patients have shown that there are nearly 100 genes that could be responsible for the onset of cancer. Worldwide, there are 400 targeted drugs that work on specific types of cancer, and the diagnostics methods employed by KPS can help assess the right kind of drug to be administered in each case. The advantage of this is that patients may no longer have to pay for expensive and often ill-targeted and unnecessary treatment. Under the OTP Health Fund, which worked in collaboration with KPS to set up a diagnostic facility, members are eligible to receive discounts on diagnostics. KPS was founded in 2003 by Drs. Stephan Peta and Richard Schwab with the vision that cancer patients are entitled to have access to the most advanced scientific technologies for the detection and cure. The first molecular technology-based cancer detection was done as far back as 2004, and the company is now on track to being a global leader in molecular diagnostics.