NEW YORK – Belgian biotech firm MiDiagnostics said Wednesday that it has raised €30 million ($31.5 million) in a Series D funding round.
The round was led by Thermo Fisher Scientific, with additional support from existing investors Alychlo, VMF Invest, and Pamica.
With the money raised, MiDiagnostics plans to accelerate the development of a sterility test for batch release and related quality control for the biopharma Industry, utilizing its proprietary qPCR technology.
"We are thrilled to have the support of Thermo Fisher Scientific as we advance our mission to revolutionize sterility testing in the biopharma sector,” MiDiagnostics CEO Katleen Verleysen said in a statement. “This funding will enable us to expedite our development efforts and leverage Thermo Fisher’s expertise for the commercialization of our pioneering products."
Based in Leuven, Belgium, MiDiagnostics is commercializing qPCR technology it has licensed from Imec and Johns Hopkins University that integrates a nanofluidic processor on a silicon chip with a compact reader, enabling the measurement of a wide array of analytes from samples. In 2021, the company developed a breath test for detecting SARS-CoV-2.