Multiplicom, a Belgium-based biotech spin-out from the University of Antwerp has received €5.5m ($7.36m) from life science investors Gimv, PMV, Rudi Mariën, Qbic, and VIB.
GIMV, VIB and the University of Antwerp previously invested in the firm during a series A round in July 2011 which raised €2m ($2.68m).
Multiplicom, formed in 2010, said in a statement that the new funds will be used to accelerate growth. The firm specialises in the development, production, and sale of genetic tests based on molecular diagnostic technologies first developed at Antwerp.
The tests can be used to identify a range of ailments at an early stage, including bowel cancer, heart failure, kidney disease, and cystic fibrosis. Multiplicom was the first European company to receive a CE certification for its kits that identify genetic defects linked to ovarian or breast cancer, and plans to conduct validation studies in order to receive more CE certifications during 2013.
Dirk Pollet, CEO of Multiplicom, said: “This capital injection will allow us to carry out our ambitious plan to develop innovative molecular diagnostic kits and to remain at the forefront of European businesses in this new branch of medicine.”
