Biocartis SA, a diagnostics company focused on fast and low-cost, integrated molecular and immunodiagnostics based on its proprietary micro-technology platform, today announced the successful closing of a Series A equity financing round. The Company raised EUR 10 million (~ USD 14.9 million) from a syndicate of leading life science investors.
The deal was led by Aescap Venture (Amsterdam, The Netherlands). Other members of the syndicate are Biovest (Belgium), KBC Private Equity (Belgium), Advent Venture Partners (United Kingdom), and existing shareholder Benaruca (Luxemburg). Dinko Valerio for Aescap Venture, Rudi Marien for Biovest, Ruth Devenyns for KBC Private Equity, Raj Parekh for Advent Venture Partners, Peter Verhaeghe for Benaruca and Rudi Pauwels constitute the Board of Directors of Biocartis.
Biocartis has developed and licensed a series of new technologies to build a broadly applicable diagnostics platform for low to highly multiplexed detection, quantification, and amplification of bio-analytes, including proteins, nucleic acids, and small molecules. The company will use the proceeds to develop a commercial version of its proprietary platform and first prototype assays.
"Biocartis has all the key ingredients necessary to become a world leader in diagnostics. It has groundbreaking new technology created with a clear vision of the end-product and the market in mind, exceptional management with a successful serial entrepreneur and an experienced and energetic team. This has now been complemented by a group of investors with highly relevant expertise in the various aspects required to build world class companies. We are delighted to be part of the team working towards the fulfillment of the great promise embedded in Biocartis," said Dinko Valerio, General Partner from lead investor Aescap Venture.
Rudi Pauwels, founder of Biocartis, Director and CEO, commented "This successful financing is an important endorsement of the innovation and advances the Biocartis team has made and allows us to further accelerate the development, validation and industrialization of the new diagnostic platform and its various components. I am particularly pleased that we are joined and backed by life-science investors who have had a very strong track record in building and financing some of the most successful European biotech and diagnostic companies."