Fundraisings and IPOs

Biocartis, a company developing and commercializing compact molecular diagnostic (MDx) systems designed to drive the widespread adoption of personalized medicine and other applications including the improved diagnosis of infectious disease, announced the completion of € 71 million (USD 100 million) Series C equity fund raising backed by existing investors, new investors and industrial collaborators and partners. Investors in the round were Debiopharm Group™, Philips, Johnson & Johnson Development Corporation (JJDC), the Wellcome Trust, Korys (investment holding of the Colruyt family), Valiance, Biovest, the family office of Dr Paul Janssen, IHL SA (Luc Verelst), PMV, New Rhein Healthcare, certain members of the Biocartis senior management team and the family office of founder Rudi Pauwels (Benaruca).
 
Biocartis’ first system, codenamed Apollo, is expected to be launched in 2013. Apollo takes its inspiration from the consumer electronics industry, being designed for everyday use by a broad range of customers in a wide range of settings. The Apollo system has been established in close collaboration with Philips Corporate Technologies, which is the key development partner of the platform. Apollo is a compact, scalable, core system that allows multiple assays to be performed anywhere, anytime, simply, rapidly and without the need for a specialist laboratory environment and trained technicians. Apollo can deliver results as accurate as those generated in a specialized clinical laboratory setting in as little as one hour from sample preparation to read out.
 
Following the fundraising, the Biocartis Board will be enlarged. Current Board members, Rudi Pauwels (Benaruca), Rudi Mariën (Biovest), Domenico (Dinko) Valerio (Aescap), Pietro Scalfaro (Debiopharm), Greg Parekh (New Rhein), Jean Deleforge (bioMerieux) will be joined by new Board members, Vincent Vliebergh (Korys), Alex Dittmair (Valiance), Christine Deuschel (Debiopharm) and Staf Van Reet (J&J). Current Board members Ruth Devenyns (KBC Private Equity) and Shahzad Malik (Advent Venture Partners) will stand down having greatly contributed to the Company’s development to this stage.