Diagenode, a Liege, Belgium-based life sciences company, secured €7.5m in financing.
The capital included an equity component provided by Epimède SA, SRIW SA, OBI SA and the Capricorn Health-tech Fund NV (CHF, Leuven, Belgium) which is managed by Capricorn Venture Partners NV combined with a loan facility provided by SRIW, OBI and SpinVenture. In conjunction with the funding, Dr. Frank Bulens, Partner at Capricorn Venture Partners, Marc Foidart founder of Epimède and Philippe Degeer, will join Diagenode’s board of directors.
The capital will be used to expand the scale of operations across the company including research and development, sales, and marketing.
Founded by CEO Didier Allaer in 2003, Diagenode focuses on epigenetics and molecular diagnostics providing of complete solutions for epigenetics research, offering innovative shearing and automation instruments, reagent kits, and antibodies to streamline sample preparation workflows.
The company develops and commercializes CE marked qPCR-based IVD kits for clinical biology laboratories for respiratory, gastric, and urinary infectious diseases. The kits have been developed both through proprietary means as well as through partnerships with major diagnostic companies.
Today, Diagenode sells products both direct and through distributors in more than 50 countries.
The company Diagenode reported revenues of €15m in its most recent fiscal year combined with a positive EBITDA margin.