LAUSANNE, Switzerland, November 17, 2011 /PRNewswire/ --
Funds Will be Used to Commercialize a Fully Automated, Compact Molecular Diagnostics System Designed to Drive the Widespread Adoption of Personalized Medicine and Other Diagnostic Applications Including the Fight Against Infectious Disease
Biocartis, a company developing and commercializing compact molecular diagnostic (MDx) systems designed to drive the widespread adoption of personalized medicine and other applications including the improved diagnosis of infectious disease, announced today the completion of EUR 71 million (USD 100 million) Series C equity fund raising backed by existing investors, new investors and industrial collaborators and partners. Investors in the round were Debiopharm Group™, Philips, Johnson & Johnson Development Corporation (JJDC), the Wellcome Trust, Korys (investment holding of the Colruyt family), Valiance, Biovest, the family office of Dr Paul Janssen, IHL SA (Luc Verelst), PMV, New Rhein Healthcare, certain members of the Biocartis senior management team and the family office of founder Rudi Pauwels (Benaruca).
Rudi Pauwels, the founder and CEO of Biocartis, commenting on today's announcement said, "Completing one of the largest life science fundraisings this year, against the background of the current turbulent financial background, is testament to the quality of Biocartis' technology, its team and the attractive market opportunity for a transformational molecular diagnostics platform which can change the face of global healthcare. We have succeeded in attracting a broad and diverse group of investors who have recognized our potential and the progress we have made towards our goal of becoming a fully integrated global diagnostics company commercializing molecular diagnostics systems that will make personalized medicine an everyday reality."
Biocartis' first system, codenamed Apollo, is expected to be launched in 2013. Apollo takes its i
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