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European Biotechnology Network!
The European Biotechnology Network is dedicated to facilitating co-operation between professionals in biotechnology and the life sciences all over Europe.
The non-profit organisation brings research groups, universities, SMEs, large companies and indeed all actors in biotechnology together to build and deliver partnerships.
Read more about our activities here.
The European Biotechnology Network is disappointed by the outcomes of the UK referendum with regard for British and wider European science collaboration. The impact of fragmentation on science is always negative for research, commercial development and end user benefits. The UK and EU now has to minimise the damage to its thriving science sector for the long term benefit of the region as a whole.
Funds for MDx manufacture20.07.2016 Belgian molecular diagnostics company Biocartis Group NV has raised €55m and will use the funds mainly to expand manufacturing capacities for its PCR-based molecular diagnostics system Idylla.The Latest Catch is brought to you by European Biotechnology News
Biocartis managed to secure a €40m bank and lease financing facility as well as a €15m subordinated loan. The Mechelen-based company will use the funds to finance the expansion of Biocartis’ manufacturing capacity for its Idylla diagnostics tests with a second Idylla cartridge manufacturing line that Biocartis ordered at the end of 2015. In addition, the money will refinance an existing loan of €5m and strengthen the company’s financial position to continue to execute its strategic plan.
The bank and lease financing facility was provided by KBC Bank and KBC Lease. It includes a partial guarantee by the Flemish Government through Gigarant. The new subordinated loan is provided by a consortium of Flemish investment company PMV and the Belgian Federal Holding and Investment Company (FPIM). It has a duration of five years.
“The new bank facility and subordinated loan strengthen our capitalisation and will further support us in realising our ambitious growth trajectory,” commented Ewoud Welten, Chief Financial Officer of Biocartis. “It also underlines Biocartis’ ability to attract funding beyond equity capital markets from reputable debt financing partners that acknowledge our potential within the molecular diagnostics market.”
Roald Borré, Head of Equity Investments of PMV, added: “Enabling companies like Biocartis to be successful positively impacts the Belgian economy in terms of employment and growth of local knowledge. Both being elements that FPIM and PMV actively want to support.”
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European Biotechnology Network AISBL
Rue de la Science 14b
1040 Brussels, Belgium
Tel: +32 27 33 72 37