Biocartis Raises €55.5 Million Through New Share Issuance to Accelerate Commercialization of Idylla Molecular Diagnostics in Oncology

VCBeat (WeChat Official Account: vcbeat) has learned that Biocartis, a publicly listed European molecular diagnostics company, recently announced the issuance of 5 million new shares at an offering price of €11.10 per share, raising a total of €55.5 million. This new share issuance represents approximately 10% of its outstanding shares.

Biocartis was founded in Switzerland in 2007. With its group headquarters located in Mechelen, Belgium, it is a leading European biotechnology company specializing in innovative molecular diagnostic solutions. Biocartis is committed to optimizing workflows and creating value for patients, physicians, and researchers in the fields of oncology and infectious diseases. The company currently operates two subsidiaries in Belgium and the United States, with its business presence spanning multiple countries worldwide.

Biocartis’ fully automated Idylla molecular diagnostic system is a real-time PCR-based platform that integrates the entire workflow from sample processing to analysis, delivering accurate and reliable molecular pathology diagnostic results.

Biocartis’ Official Website: Fully Automated Idylla Molecular Diagnostic System

The application of molecular diagnostics in oncology precision medicine has garnered significant attention in recent years. Advances in related technologies have led to innovative personalized medication regimens, and when combined with novel therapies, the vision of managing cancer as a chronic disease is no longer a “utopia.”

Existing conventional molecular pathology techniques require tedious manual procedures and prolonged experimental timelines, leading to high labor costs and potential human errors that compromise result accuracy. The advantage of Idylla lies in its integration of the entire workflow from sample processing to analysis. The process is straightforward, requiring less than 2 minutes of manual preparation, with a total turnaround time reduced to approximately 120 minutes. Its user-friendly design and contamination-prevention features enable operation by non-specialists even in non-laboratory settings, thereby bringing diagnostic testing closer to patients.

The Idylla system supports virtually any type of biological specimen, offers a broad range of detection targets, and delivers accurate and reliable results. Its reagents remain stable at room temperature for extended periods. These features enable the wider adoption of the Idylla system across diverse settings, including medical diagnostics and scientific research.

Since the commercial launch of the Idylla system in 2014, Biocartis has sold 15 oncology gene testing assays and two infectious disease diagnostic products in more than 70 countries and regions worldwide. Some of these products have obtained CE marking in the European Union and clearance from the U.S. Food and Drug Administration (FDA).

In September last year, Biocartis entered into a cooperation agreement with Wondfo (Hong Kong) Co., Ltd., a wholly-owned subsidiary of Wondfo Biotech, to jointly establish a Hong Kong-based joint venture. The partnership aims to introduce Biocartis’ fully automated Idylla molecular diagnostics system technology to mainland China and jointly promote its commercial application in the oncology field there. The collaboration between Biocartis and Wondfo Biotech marks the first step for Idylla’s entry into the Chinese market.

Biocartis plans to continue using the proceeds from this new share offering to expand Idylla’s reach, drive sales and marketing activities, and collaborate with key industry partners to rapidly expand the Idylla test menu, thereby addressing the growing needs in the oncology field.