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GEN News Highlights : Oct 15, 2009

Biocartis to Pocket Roughly $14.9M in Series A Financing

Focus is on developing a novel platform for multiple analyte detection.

Molecular diagnostics firm Biocartis raised €10 million (about $14.94 million) in a Series A equity financing round with a syndicate of life science investors. The primary fields of applications being targeted are analysis of bio-molecules associated with risk factors, early detection, staging, treatment selection, and disease monitoring.

Based in Lausannes, Switzerland, Biocartis was founded in 2007 to develop a novel molecular diagnostics technology for low-to-highly multiplexed bioanalyte detection. The firm claims that starting from a single, low-volume clinical sample, the platform has the potential to carry out the multiplexed detection and quantification of a large variety of biological molecules including DNA, RNA, proteins, and small molecules.

The fundraising was led by Amsterdam-based Aescap Venture. Other members of the syndicate are Biovest, KBC Private Equity, Advent Venture Partners, and existing shareholder Benaruca.