Biocartis Completes €71M Series C Equity Funding
Summary
Biocartis, a Lausanne, Switzerland-based company developing and commercializing compact molecular diagnostic (MDx) systems, completed a €71m (US$100m) Series C equity funding.Founded in 2007, Biocartis will launch its first system, Apollo, in 2013, which has been established in close collaboration with Philips Corporate Technologies to enable personalized medicine and individual diagnoses.Apollo is a compact system that allows multiple assays to be performed anywhere, rapidly and without the need for a specialist laboratory environment and trained technicians.Following the fundraising, the company’s Board will be enlarged and current 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).Ruth Devenyns (KBC Private Equity) and Shahzad Malik(Advent Venture Partners) will stand down.