Biocartis Completes €34,5 Million ($44,5 Million) Series D Fund Raising
PR Newswire LAUSANNE, Switzerland, December 12, 2012
LAUSANNE, Switzerland,December 12, 2012/PRNewswire/ --
Capital to be used to commercialize recently launchedDMATplatform, validateAPOLLOplatform and build proprietary oncology content on both platform s Strong support from internal shareholders andarecognition 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, C EO).
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; grow ing 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.