Biocartis SA closed its €10m ($14.9m) Series A equity financing round led by Amsterdam-based Aescap Venture with participation from a syndicate of European investors including Biovest, KBC Private Equity, Advent Venture Partners, and Benaruca.
Dinko Valerio for Aescap Venture, Rudi Marien for Biovest, Ruth Devenyns for KBC Private Equity, Raj Parekh for Advent Venture Partners, Peter Verhaeghe for Benaruca and Rudi Pauwels constitute the company’s Board of Directors.
Lausanne, Switzerland-based Biocartis, which can benefit from access to the Swiss Federal Institute of Technology (Ecole Polytechnique Federale de Lausanne – EPFL), an European academic institution in Micro&Nanotechnology and Life Sciences, has developed and licensed a series of new technologies to build a broadly applicable diagnostics platform for low to highly multiplexed detection, quantification, and amplification of bio-analytes, including proteins, nucleic acids, and small molecules.
The company will use the proceeds to develop a commercial version of its proprietary platform and first prototype assays.
Commenting on the round, Rudi Pauwels, founder of Biocartis, Director and CEO, said: “This successful financing is an important endorsement of the innovation and advances the Biocartis team has made and allows us to further accelerate the development, validation and industrialization of the new diagnostic platform and its various components”.