Biocartis completes €34,5million ($44,5 million) series d fund raising
• Strong support from internal shareholders and a recognition of our achievements
Biocartis, a molecular diagnostics company developing and commercializing innovative, high quality, easy to use platforms and clinically relevant oncology assays, announced today the completion of a €34,5 million (approximately $45 million, CHF 42 million) Series D equity fund raising entirely backed by existing investors. The round was led by the Flemish investment company PMV (using its TINA-fund), and included RMM (Rudi Mariën), Valiance, Debiopharm Group™, Korys (investment holding of the Colruyt family), Philips, Johnson & Johnson Development Corporation (JJDC), the family office of Dr Paul Janssen, Luc Verelst, Benaruca (Rudi Pauwels, founder of Biocartis) and New Rhein Healthcare (Greg Parekh, CEO).
Greg Parekh, the CEO of Biocartis, commenting on today’s announcement said, “Completing a major life sciences fundraising in today´s environment is recognition of the significant progress that Biocartis has made over the past year. We are now a commercial stage organization with a high quality team which has proven it can take platforms from development to commercialisation. We now look forward to building our menu of oncology tests; validating, registering and launching the Apollo platform; growing our commercial presence and ultimately helping shape the diagnosis and treatment of cancer.”
Rudi Pauwels, chairman and founder of the company, added: “We have once more received a positive signal from our shareholders. They strongly believe in the potential of the company and our goal to becoming a fully integrated global molecular diagnostics company. “
Following the fundraising, Roald Borré, representing PMV, will join the Biocartis Board.
Biocartis aims to improve healthcare outcomes by enabling the practice of personalized medicine anywhere, anytime. Biocartis’ ambition is to establish a new gold standard in diagnostic testing.
Biocartis provides innovative research and diagnostic systems with simultaneous multiplex detection and simplified workflows which require less hand-on time and improve sample consumption. Additionally, Biocartis develops assays which have high clinical utility and compelling health economic value. Oncology is the primary focus of Biocartis as this is one of the greatest unmet needs for personalized medicine. Biocartis’ broad platform capabilities are well suited to address the growing need for individualized diagnosis and treatment of cancer patients.
Biocartis follows a unique alliance model which leverages the combined resources of its current alliance partners (bioMérieux and Janssen Diagnostics) and future alliance members to jointly and efficiently install and service a global base of instruments and develop a broad menu of diagnostic tests.
Biocartis is a rapidly growing company; to date Biocartis staff includes over 140 people. Biocartis SA is based at the EPFL’s Innovation Square in Lausanne, Switzerland; the Belgian entity which counts over 100 staff, is located in Mechelen.
The company raised in total close to EUR 150 million in equity.