KU Leuven returned for the automated DNA diagnostic spinout's series A round, which follows a $2.3m round in 2016 and $1.5m raised in 2015.

Ugentec, a Belgium-based developer of automated DNA diagnostics software spinout from KU Leuven, closed a $9.3m series A round on Thursday with backers including the university.

Gemma Frisius Fund, a seed partnership of KU Leuven and banking groups KBC and BNP Paribas Fortis, also contributed funding, as did Flemish government-backed investment firm LRM, nanoelectronics research institute Imec, and private investors Annie Vereecken and Herman Verrelst.

Ugentec’s FastFinder DNA analysis platform relies on artificial intelligence to accelerate and improve the accuracy of clinical diagnostic tests. The software analyses output from a DNA amplification process called quantitative polymerase chain reaction (qPCR), which is used to replicate specific DNA sequences in real time.

The capital will go towards opening an office in the US as the spinout aims to solidify its market position in clinical diagnostics and enter additional segments such as food safety, animal health and agriculture.

Ugentec has agreed to adapt its software for prostate cancer tests run by oncological developer MDxHealth and has partnered PCR diagnostics supplier Fast Track Diagnostics, owned by Siemens Healthineers, itself part of industrial product and appliance maker Siemens.

Ugentec secured $1.5m in funding in 2015 from Flemish government-backed Agency for Innovation by Science and Technology, Annie Vereecken, Herman Verrelst, a group of KU Leuven-linked private investors and LRM, which provided a $107,000 loan.

The company went on to close a $2.3m post-seed round in 2016, with contributions from its existing investors and an unspecified credit subsidiary of BNP Paribas Fortis.

Tom Martens, founder of Ugentec, said: “We are proud to have transformed FastFinder from a technical innovation into the go-to solution for high-throughput qPCR analysis in well over 100 laboratories across the globe.

“We will accelerate our growth in 2018 by partnering with more molecular diagnostic companies as well as qPCR device and robotics manufacturers.”