Biocartis Completes $44.5 Million Series D Fund Raising
Published: Dec 12, 2012
Capital to be used to commercialize recently launched DMAT platform, validate APOLLO platform and build proprietary oncology content on both platforms
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.