Multiplicom NV, a Niel, Belgium-based company that specializes in molecular diagnostics, raised €5.5m in funding.
Backers included Flemish investment company PMV, RMM and Qbic ARKIV Fund and existing investors Gimv (Biotech Fonds VlaanderenI) and VIB.
The company intends to use the capital to develop further diagnostic tests, fund international validation studies and expand its European sales channels.
Formed in 2010 as a spin-off of the University of Antwerp and VIB, and led by Dirk Pollet, CEO, Multiplicom develops, produces and sells genetic tests based on innovative molecular diagnostic technologies. The tests make it possible to identify an increased genetic risk to develop a disease, identify congenital defects at an early stage or identify the most suitable therapy for patients.
In 2012, Multiplicom received CE certification for its test to detect genetic defects that might indicate an increased risk of ovarian cancer or breast cancer.
For research applications, the company is selling kits for cystic fibrosis, bowel cancer, heart failure, kidney disease and muscle disease. In 2013, Multiplicom is planning the introduction of a new series of kits that can detect DNA mutations in cancerous tissue.