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Biocartis Completes EUR 71 Million (USD 100 Million) Series C Fund Raising
Date:11/17/2011

nspiration from the consumer electronics industry, being designed for everyday use by a broad range of customers in a wide range of settings. The Apollo system has been established in close collaboration with Philips Corporate Technologies, which is the key development partner of the platform. Apollo is a compact, scalable, core system that allows multiple assays to be performed anywhere, anytime, simply, rapidly and without the need for a specialist laboratory environment and trained technicians. Apollo can deliver results as accurate as those generated in a specialized clinical laboratory setting in as little as one hour from sample preparation to read out.

Apollo is highly versatile with regard to sample types and assay types and can analyze multiple disease parameters in one assay. Apollo has also been designed to be easily integrated into healthcare IT systems and to benefit from lower capital requirements and running costs.

Biocartis is using a collaborative business model to help drive the build-up of the shared installed base of its Apollo system once launched and to broaden the menu of infectious disease and personalized medicine assays required to meet the needs of the growing MDx market. Biocartis' key collaborators include bioMerieux and Janssen Pharmaceutica (J&J). Biocartis' aim is to rapidly create a widely adopted platform that is accessible to both the Company and other developers of new MDx assays.

Rudi Pauwels further commented, "Today's financing is a key step in enabling Biocartis to deliver its broader vision for diagnostics, to enhance each patient's quality of life by offering better treatments based on better and more personalized diagnostics. With the backing of our investors, the drive and experience of the Biocartis team and the support of collaborators I am confident we can achieve this ambitious and important goal."  

Following the fundraising, the Biocartis Board will be enlarged. Current Board memb
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