Biocartis raises €10 million in Series A financing round

Lausanne, Switzerland, October 15th 2009 – Biocartis SA, a diagnostics company focused on fast and low-cost, integrated molecular and immunodiagnostics based on its proprietary micro-technology platform, today announced the successful closing of a Series A equity financing round. The Company raised EUR 10 million (~ USD 14.6 million) from a syndicate of leading life science investors.

The deal was led by Aescap Venture (Amsterdam, The Netherlands). Other members of the syndicate are Advent Venture Partners (United Kingdom), existing shareholder Benaruca (Luxemburg), Biovest (Belgium), and KBC Private Equity (Belgium). Following the Series A financing, Dinko Valerio for Aescap Venture, Raj Parekh for Advent Venture Partners, Rudi Mariën for Biovest, Ruth Devenyns for KBC Private Equity, Peter Verhaeghe for Benaruca, and Rudi Pauwels constitute the Board of Directors of Biocartis.

Biocartis engages in the development of a new diagnostics technology platform for low to highly multiplexed detection, quantification, and amplification of bio-analytes, including proteins, nucleic acids, and small molecules. The company has developed and licensed a series of new technologies, both for the optimization of biological assays and the amplification of bio-analytes, and will use the proceeds to develop a commercial version of its proprietary platform and first prototype assays. Biocartis aims to ultimately deliver a versatile compact diagnostics platform, for use in various in vitro diagnostic settings that will drastically reduce the time and costs per value added data point.

“Biocartis has all the key ingredients necessary to become a world leader in diagnostics. It has groundbreaking new technology created with a clear vision of the end-product and the market in mind, exceptional management with a successful serial entrepreneur and an experienced and energetic team. This has now been complemented by a group of investors with highly relevant expertise in the various aspects required to build world class companies. We are delighted to be part of the team working towards the fulfillment of the great promise embedded in Biocartis”, said Dinko Valerio, General Partner from lead investor Aescap Venture.

Rudi Pauwels, founder of Biocartis, Director and CEO, commented “This successful financing is an important endorsement of the innovation and advances the Biocartis team has made and allows us to further accelerate the development, validation and industrialization of the new diagnostic platform and its various components. I am particularly pleased that we are joined and backed by life-science investors who have had a very strong track record in building and financing some of the most successful European biotech and diagnostic companies”.

Biocartis is based in Lausanne Switzerland, where it benefits from access to the Ecole Polytechnique Fédérale de Lausanne (EPFL), a leading European academic institution in Micro-&Nanotechnology and Life Sciences, with first-class clean room and laboratory facilities that can be accessed by the companies located in the university’s scientific park. Access to this multi-disciplinary environment has already been crucial to Biocartis’ rapid progress and will play an important role in its future development.

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Note for the editor:

About Biocartis – www.biocartis.com
Biocartis S.A. was founded in 2007 by Dr. Rudi Pauwels (Co-founder of Tibotec, Virco and Galapagos Genomics), Prof. Philippe Renaud (Prof. at EPFL), and Nader Donzel (Co-founder of Scitec laboratory Automation). Biocartis engages in the development of a novel diagnostics technology platform for low to highly multiplexed detection of bio-analytes. The Company is focused on delivering a versatile compact diagnostics platform, for use in various in vitro diagnostic settings that will drastically reduce the time and costs per value added data point.

About Aescap Venture – www.aescap.com
Aescap Venture is a venture capital company investing in private medical companies in Europe. Aescap’s Partners have a proven track record of success and the skills to coach entrepreneurs in accelerating the growth of their companies.

About Biovest – Rudi Mariën
Rudi Mariën was co-founder, reference shareholder and Chairman of Innogenetics, and has been the founder, shareholder and Managing Director of several clinical reference laboratories.

About KBC Private Equity – www.kbcpe.be
The Life Sciences division of KBC Private Equity invests in early- to late-stage life-science companies, with a focus on pharmaceutical biotech. Investments include Ablynx, Devgen, Innogenetics, Movetis, and Tibotec-Virco.

About Advent Venture Partners - www.adventventures.com
Advent Venture Partners is a long established European Venture Capital firm with a strong record of building successful companies.

For further information, please contact:
Rudi Pauwels, CEO
Phone:    +41 21 693 90 51
Fax:        +41 21 560 42 91
e-mail:    info@biocartis.com

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