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Biocartis Nets $41M in Financing for IVD Development, Launch

NEW YORK (GenomeWeb News) – Swiss molecular diagnostics firm Biocartis said today that it has raised €30 million ($40.5 million) in a Series E equity financing.

The company plans to use the new capital to validate its Idylla platform and to continue developing a range of assays, most of them oncology-related.

Biocartis plans to launch the Idylla, a scalable biomarker-based in vitro diagnostic platform that does not require a lab environment or trained technicians, and its BRAF cancer assay, in the second half of 2014.

The investors in this financing round include existing shareholders such as RMM; Debiopharm Diagnostics; PMV Tina Fund; Johnson and Johnson Development Corporation; Philips; the Wellcome Trust; Petercam; Paul Janssen; Luc Verelst; Biocartis Founder Rudi Pauwels; and some smaller shareholders and company employees.