Date: 2011-04-27
Type of information: Fundraising
Company: Multiplicom (Belgium)
Investors: Gimv (Belgium) VIB (Belgium) University of Antwerp (Belgium)
Amount: € 2.0 million
Funding type: Series A funding round
Planned used: Multiplicom is specialized in the development, manufacturing and commercialization of innovative molecular genetic tests. These tests allow (i) to determine whether an individual has an increased genetic risk to develop a disease, (ii) early detection of congenital genetic defect, or (iii) to identify the most appropriate therapy for patients. Multiplicom’s assays offer a significant overall reduction in cost and time for next generation sequencing based genetic analysis. The proceeds of the financing will be used for the development of innovative diagnostic tests, CE-marking of diagnostic assays, and to build a sales network in the European Union.
Others: Multiplicom, a startup focused on molecular diagnostics, has raised € 2.0 million in a Series-A funding round. Gimv, and Gimv managed funds invest €1.5 million. VIB and University of Antwerp together invest the balance of € 0.5 million Multiplicom already offers several diagnostic assays, including assays for breast cancer and cystic fibrosis. The company’s initial focus will be on direct sales in Western European countries in combination with newly to be appointed distributors in other countries. Moreover, Multiplicom is already using its Multiplexer™ technology in collaboration with pharma companies to identify genetic markers linked to drug safety and/or efficacy.
Therapeutic area: Cancer - Oncology - Genetic diseases
