Delta Diagnostics is developing a true platform technology that can be applied for basic life sciences research and in development of new multi-biomarker assays for diagnostics. In the life sciences research domain it offers affordable, high-plex analysis (binding kinetics, antibody screening, concentration measurements), while in the diagnostics domain it enables rapid and quantitative detection of panels of biomarkers.

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Not only do we make label-free biosensing accessible to all, we also accelerate research by at least a factor 4 compared to existing technology.

Bart de Boer – CTO​

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The challenge

When Delta Diagnostics came to F.INSTITUTE early 2020 the company’s financials were covered by a traditional accountancy firm. As the company was working up towards their next growth stage, they started to encounter the limited scalability and limited stage/industry-specific knowledge of their current solution. They needed a financial partner that could follow their high-growth strategy to:

• Take over the day-to-day bookkeeping activities
• Ensure their financial processes were structured to scale quickly
• Bring the quality of reporting to an investor-ready level
• Improve the quality of forward-looking information and financial model
• Provide strategic CFO-level support on their upcoming capital raise

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The solution

 F.INSTITUTE provided Delta Diagnostics with a full financial solution at a fraction of the cost for a full-time internal team member. Right from the start we helped the company to:

• Improve financial process such as employee reimbursements and vendor payments
• Integrate all the financial data (bookkeeping, payroll, budget) in a single financial platform  
• Build advanced financial projections and models
• Increase financial insights and strategic planning true user friendly reports

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In 2022 the relation was extended with a dedicated CFO and fundraising support and we started an intense process of raising a Series-A round, including:

• Preparing Pitch decks and marketing materials
• Setting up a well-structured Virtual Data Room (VDR)
• Financial forecasting and valuation models
• Investor outreach and deal support

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The impact

1. Peace Of Mind – Delta Diagnostics found a trustworthy, single-solution financial partner who ensured they always maintained a high level of financial control and make informed decisions.
2. A big leap forward – Early 2023 the company successfully closed its Series-A financing round with a syndicate of VCs, with CFO support of F.INSTITUTE. The proceeds of this round enables the company to grow the team, bring their first product to the market and generate first sales.  
3. Trusted Partnership – More than just a service provider, the company found a strategic partner willing to go the extra mile and spend time in the trenches together.