Biocartis has announced that it has successfully completed an EUR 64.5 million equity fundraising, one of the largest private rounds in the European life sciences industry in recent years.
The additional capital will fund the commercial roll-out of Idylla™ in Europe later this year, and the expansion of its commercial reach beyond Europe as of next year.
Furthermore, the fundraising will also support and accelerate the development of a wide range of diagnostic tests for Idylla™. With this round, the total capital invested in Biocartis to date amounts to EUR 240 million (approx. USD 316 million).
The capital round is subscribed by Johnson & Johnson Development Corporation, Hitachi Chemical Corporation, PMV Tina Fund and a few existing and new family offices.
Hilde Windels, CFO at Biocartis, stated: “We believe this major fundraising demonstrates the support for Biocartis’ ambition to make personalized medicine a truly sustainable, everyday practice. By intensifying the development of our assay menu, we intend to demonstrate the potential of Idylla™ in the field of oncology, infectious diseases and beyond. We thank our investors for their ongoing support and their belief in Biocartis’ groundbreaking role in transforming molecular diagnostics.”