PharmaFluidics, a Belgium-based research diagnostics spinout from Vrije Universiteit Brussel (VUB), secured €7.3m ($9m) on Thursday in a round featuring multi-university venturing firm Qbic.
The round included Theodorus, the investment fund of Université libre de Bruxelles, as well as Flemish government-owned investment arm Participatiemaatschappij Vlaanderen (PMV) and family offices Heran and RMM.
Impact investment firm Volksvermogen and life sciences-focused VC vehicle Innovation Fund were also named as participants. Qbic focuses on spinouts from VUB, University of Antwerp and technological research centre Vito.
Founded in 2010, PharmaFluidics has developed a microchip-based technology for chromatography – the process by which chemicals are separated during laboratory research.
The microchip grooves are installed lithographically to improve the accuracy of chemical separation, potentially enabling recognition of more nuanced variations.
The cash will help expand PharmaFluidics’ production capabilities as it targets greater sales internationally. Additionally, capital will facilitate the development of existing and new products.
PharmaFluidics was co-founded by Paul Jacobs, a former research assistant in biosensors at KU Leuven who is now the spinout’s chief operating officer, along with Gert Desmet, who leads VUB’s Department of Chemical Engineering.
Also instrumental were Joeri Denayer, a professor in separation science at VUB, and Wim De Malsche, an associate professor in separation science, microfluidics and microreactors.
PharmaFluidics’ funding now stands at $4.3m overall, including $2.8m raised in January 2017 from Qbic’s Arkiv Fund, Theodorus, PMV, Innovation Fund and Volksvermogen.
Qbic Arkiv, PMV and Sofi – a PMV-managed research-focused VC fund – all backed Pharma’s $817,500 round in 2015, after the spinout had received $680,000 from Qbic Arkiv and Sofi one year earlier.
