Date: 2014-09-04
Type of information: Financing round
Company: Biocartis (Belgium)
Investors: Johnson & Johnson Development Corporation, a J&J company (USA - NJ) , Hitachi Chemical Corporation (Japan), PMV Tina Fund (Belgium), undisclosed family offices
Amount: € 64.5 million
Funding type: financing round
Planned used: The capital will fund the commercial roll-out of Idylla™ in Europe later this year, and the expansion of its commercial reach beyond Europe as of next year. Idylla™ is a miniaturized, fully automated molecular system that integrates all molecular diagnostics steps in one easy-to-use system. It can be used for any human clinical sample type and covers the entire process from sample to result in a time frame of 35 to 120 minutes. Idylla™ enables clinical laboratories to perform a broad range of applications in oncology, infectious diseases and beyond. Idylla™ and the system’s first assay, the Idylla™ BRAF Mutation Test, have obtained CE-IVD marking. Furthermore, the fundraising will also support and accelerate the development of a wide range of diagnostic tests for Idylla™.
Others: * On September 4, 2014, Biocartis announced it has successfully completed an € 64.5 million equity fundraising, one of the largest private rounds in the European life sciences industry in recent years. With this round, the total capital invested in Biocartis to date amounts to € 240 million (approx. $ 316 million). The capital round is subscribed by Johnson & Johnson Development Corporation, Hitachi Chemical Corporation, PMV Tina Fund and a few existing and new family offices. * On November 5, 2013, Biocartis has announced the completion of an € 30 million Series E equity fundraising.
Therapeutic area: Diagnostic - Cancer - Oncology - Infectious diseases
