Biocartis Raises €64.5M

idylla_galleryBiocartis, a Mechelen, Belgium- and Lausanne, Switzerland-based provider of a molecular diagnostics system, completed a €64.5m equity funding.

Backers included Johnson & Johnson Development Corporation, Hitachi Chemical Corporation, PMV Tina Fund and a existing and new family offices.

The company, which has now raised €240m (approx. $316m in total), intends to use the funds to roll-out IdyllaTM in Europe later this year, expand the commercial reach beyond Europe as of next year, and accelerate the development of a wide range of diagnostic tests for the system.

Led by Rudi Pauwels, CEO, Biocartis has developed Idylla, a miniaturized molecular product that integrates all molecular diagnostics steps in one system allowing clinicians to perform a broad range of applications in oncology, infectious diseases and beyond.

The company is working with Janssen Pharmaceutica and Abbott Molecular to develop a range of diagnostic tests in different disease areas.  The Idylla system and its first oncology assay, the IdyllaTM BRAF Mutation Test, have obtained CE-IVD marking.



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