Biocartis completed a €71 million (almost $95.74 million) Series C equity fundraising. Investors included life science corporate ventures like Debiopharm Group, Johnson & Johnson Development Corporation, and Biovest. Biocartis is focused on developing molecular diagnostics for infectious diseases.
The firm’s first system, called Apollo, is expected to launch in 2013. It is being designed as a compact, scalable system that allows multiple assays to be performed anywhere, anytime, simply, rapidly, and without the need for a specialist laboratory environment and trained technicians, Biocartis explains.
Apollo is reportedly highly versatile with regard to sample types and assay types and can analyze multiple disease parameters in one assay. It 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, the company adds.
Biocartis also has a second system that shares a common user interface with Apollo. It has been built around disposable, microfluidic cartridges with digitally encoded micro carriers for the detection of a range of biomarkers. The first product from this platform will focus on protein-based biomarkers and will allow Biocartis to enter the immunoassay market.
Biocartis’ collaborators include bioMerieux and Janssen Pharmaceutica (part of J&J). The company has reportedly raised over $100 million in equity funding.