UK-based Paragraf has acquired U.S-based Cardea Bio, maker of graphene biosensors. Cardea Bio has been renamed Paragraf USA and Michael Heltzen, CEO and co-founder of Cardea Bio, became EVP of Strategy at Paragraf USA.
“Joining Paragraf allows us to use the world’s only mass-produced, transfer-free monolayer graphene to manufacture the state-of-the art graphene-based biosensors developed by the Cardea team over the last ten years. We are looking forward to unlocking powerful synergistic effects to advance the broad and growing use of graphene biosensors for the benefit of both people and the planet,” says Heltzen.
Paragraf mass produces graphene electronics using transfer-free graphene and standard semiconductor processes. Cardea Bio produces graphene-based biocompatible chips.
“The world-leading IP and expertise in graphene-electronic-based molecular detection using CRISPR and other bioassay methods from Cardea Bio, combined with Paragraf’s ground-breaking developments in scalable graphene production processes will deliver a strong pipeline of bio-sensing products aimed at solving major global challenges,” says Simon Thomas, Paragraf CEO and co-founder.
“These products will strengthen surveillance of the quality and integrity of our food production processes, markedly improve early detection of disease and monitor the health of our environment. With our existing product lines of current, position and cryogenic sensors – all built on graphene – they will advance Paragraf’s vision of Healthy People, Healthy Cities and Healthy Planet.”
Paragraf is a "Theranos"…
Paragraf is a "Theranos" equivalent in the making. All of researchers and people working in the 2D field know it. Under the disguise of a "semiconductor" company (graphene, of course, is not a semiconductor) their main achievement is to have set up a campaign that "it is not enough funding" and an illusion of some technological breakthrough with visuals pulled from generic images from various industries, and nice diagrams. There is another campaign of received nominations, awards and prizes, but it is never clear exactly what is the achievement technologically. If looked closely, a lot of their patents can be easily dismissed because there is clear prior art and literature, and it is just a lapse in the depth of the search report from patent offices as there is simply too much to identify everything relevant. It is just that no-one cares enough to do it as it is not such a lucrative industry as Paragraf makes it out to be. The technology that Paragraf is developing is not competitive long term as they started too early, with outdated concepts and limited understanding (2015), also by people not familiar with the field. There is now (2023) astonishing progress in China, where they are taking 2D materials into production for electronics with modern approaches and quality. Likely in 5 years time these materials and devices will completely outperform what Paragraf can event hope to offer. On the business side of things, having raised $85.24M, their operational expenditure/loss has been $6M (2020), $8.6M (2021), $14.7M (2022) with $40M assets left (2022) - according to their filings. Another funding round is surely coming. While upkeeping this charade, it is a great personal income machine for the CEO and all the related directors, likely on huge salaries, but the elephant in the room is not going anywhere - the lack of any competitive technology and any product that is not an ultra-expensive niche product that can be easily created with many other alternative solutions that don't involve graphene. I only wish that the UK government would just scrutinize not only the presented facade, but try to get a second technical opinion from experts about their technology and I find it outrageous that grants are being awarded from public funds to this company. It would be even more outrageous if other significant support is provided via the National Semiconductor Strategy under the pretence that Paragraf is a leading semiconductor company.