Biocartis Scores 80M Euros to Fund Expansion of Its Idylla Test Menu

NEW YORK (GenomeWeb) – Biocartis announced today that it has raised €80 million ($94.7 million) through a private placement via an accelerated bookbuild offering of 6.4 million new shares.

The firm said it sold the shares at an issue price of €12.50 each, and that the total 6.4 million shares represent approximately 14.3 percent of its outstanding shares.

Belgium-based Biocartis said it will use the net proceeds to fund expansions of its Idylla test menu, its sales and marketing activities, and its cartridge manufacturing capacity, as well as for working capital and other general corporate purposes.