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Belgian life sciences developer Multiplicom raises €5.5m

8 Feb 2013

Multiplicom, a Belgian start-up specialised in molecular diagnostics, has raised €5.5m from life sciences investors including Flemish investment firmPMV, RMM and Qbic ARKIV Fund.

The original investors – Gimv, the Gimv-managed Biotech Fonds Vlaanderen and VIB – continue to support the growth of the company. VIB will again be making an investment in kind, it said.

This capital increase gives Multiplicom the opportunity to develop further diagnostic tests, fund international validation studies and expand its European sales channels, it said.

Multiplicom was formed in 2010 as a spin-off of the University of Antwerp and VIB. It is specialised in the development, production and sale of genetic tests based on molecular diagnostic technologies.

Dirk Pollet, CEO of Multiplicom, “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.”

“In the past year, Multiplicom has confirmed its huge growth potential in molecular diagnostics. It is therefore no surprise that there was a lot of interest from new investors willing to back the company. We are pleased, given the prevailing difficult investment climate, that the second round of funding has concluded successfully,” added Christophe Van Vaeck, associate health and care at Gimv.

“It is clear that diagnostics will play an increasingly important role in keeping medicine affordable in the coming decade,” added Bram Vanparys, life sciences investment manager at PMV.

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