Biocartis Announces Completion of EUR 30 Million Series E Equity Fundraising
News Nov 07, 2013

Biocartis has announced the completion of an EUR 30 million Series E equity fundraising. The additional capital will be used to validate Biocartis’ molecular diagnostics platform Idylla™ and its first assay and to continue the development of a range of assays, primarily in the oncology field.
Biocartis is now in pole position to unroll an ambitious commercialization plan in 2014.
This series E round was entirely subscribed by the existing shareholders such as RMM (Rudi Mariën), Debiopharm Diagnostics SA, PMV Tina Fund, Valiance, Johnson & Johnson Development Corporation, Philips, the Wellcome Trust, Petercam, the family offices of Dr. Paul Janssen, Luc Verelst, Rudi Pauwels (founder of Biocartis) and some smaller shareholders, including some employees.
Hilde Windels, CFO of Biocartis, commented: “We believe the successful completion of this fundraise is again a testimony to the quality of Biocartis’ technology, its leading position, its promise to provide the tools for true personalized medicine in an exponentially growing market. Our molecular diagnostics platform Idylla™ truly meets the need of pathologists and key clinicians who recognize the platform as being rapid and easy-to-use, with a high level of standardization. We are delighted that our existing shareholders continue to support Biocartis’ progress, and look forward to putting these resources to work to advance our vision of becoming a fully integrated global diagnostics company.”
Biocartis’ flagship platform Idylla™ and the BRAF cancer assay are expected to be launched in the second half of 2014.
Idylla™ is a compact and scalable molecular diagnostics platform that allows assays to be performed anywhere, anytime without the need for a specialist laboratory environment and trained technicians.
Idylla™ rapidly detects biomarkers in cancer samples, amongst other clinical patient samples, with a much higher sensitivity as compared to standard diagnostic assays and standard sequencing.
RELATED ARTICLES
The Protein Lasso Implicated in Breast Cancer
NewsCertain types of RNA are implicated in the production of pro-breast cancer proteins. Now, a new study has shed light on the mechanism by which these RNAs manipulate DNA to produce these proteins.
READ MORENew Target for Immunotherapy for Solid Tumors?
NewsResearch from the University of Cincinnati (UC) reveals a potential new target to help T cells (white blood cells) infiltrate certain solid tumors.
READ MOREGene-edited Organoids Reveal How Deadly Brain Cancer Grows
NewsGlioblastoma multiforme (GBM) is an incredibly deadly brain cancer and presents a serious black box challenge. It's virtually impossible to observe how these tumors operate in their natural environment and animal models don't always provide good answers. Researchers have now taken an important step towards meeting that challenge.
READ MOREComments | 0 ADD COMMENT
Like what you just read? You can find similar content on the communities below.
DiagnosticsTo personalize the content you see on Technology Networks homepage, Log In or Subscribe for Free
LOGIN SUBSCRIBE FOR FREE
Login
You must be logged in to post a comment.