OncoDNA has completed a €19 million ($20 million) Series B equity financing. The new funding will support rapid international growth, accelerate software development and hiring initiatives.
The round was led by Vesalius Biocapital III and Swisscanto Invest by Zürcher Kantonalbank with the significant support of SFPI-FPIM. Historical shareholders together with CPH Bank, Inventures, Sambrinvest, Sofinim (Ackermans & Van Haaren) and SRIW have also participated. This represents another landmark achievement after the €8 million Series A fundraising closed in September 2016.
OncoDNA is now maximizing the fast and proper rollout of its oncology clinical decision support software OncoKDM® with the objective of becoming the European leader in oncogenomic data interpretation and reporting to further support molecular laboratories, healthcare professionals and the pharma industry in their daily research and clinical practice.
Jean-Pol Detiffe, Founder & Chief Executive Officer at OncoDNA: “We are delighted to have successfully raised sufficient new capital from such quality investors who will enable us to grow and increase our support to oncologists and cancer patients with our data driven solutions. OncoDNA is already positioned as the European champion for cancer precision medicine as we built a worldwide network of more than several thousand oncologists. Our next move is to connect molecular laboratories to our advanced data interpretation tools, which we pride ourselves on now being possible thanks to the support of our new investors.”
Guy Geldhof, Partner at Vesalius Biocapital III S.C.A. SICAR said: “We are excited about co-leading the Series B investment in OncoDNA. It is thrilling to work with a team that has both world class experience in genomic molecular profiling and a strong desire to serve patients by offering best-in-class support to oncology professionals. We are confident OncoDNA will accelerate the development and commercialization of its valuable new solutions, especially through closer collaborations with the biopharma industry, with the final objective of contributing to better healthcare.”
Robert Schier, Partner at Swisscanto (CH) Private Equity Switzerland Growth I KmGK added: “OncoDNA has grown significantly over the past years and are continuing to add the necessary clinical expertise and know-how to act upon its mission. Its disruptive vision and highly integrated market approach make it to be the perfect candidate to rapidly become the European leader in oncology big data. We are delighted to partner with OncoDNA as we firmly believe the company contributes to both a more sustainable healthcare system and improved patient health outcomes.”
“Considering our important investment in OncoDNA, alongside players like Vesalius Biocapital III and Swisscanto, we are convinced that the company has all the necessary means at a key moment of its development to successfully carry out appropriate projects to assist and support oncologists in prescribing the most optimal therapeutic treatments to patients. We are happy to count on the support of our colleagues from SRIW and Sambrinvest as historical stakeholders” concluded François Fontaine, at SFPI-FPIM.
About Vesalius Biocapital III
Vesalius Biocapital III is a specialist life sciences venture capital fund and is in line with predecessor funds Vesalius Biocapital I and Vesalius Biocapital II, which have supported life sciences companies since 2007. Vesalius Biocapital I and II raised over EUR 150 million and contributed in the development of over 20 companies.
The investment portfolio is well balanced between drug development, medical device & diagnostics and digital health investments and committed to providing capital to science-backed innovation and ambitious entrepreneurs, with a strong focus on exit within five years.
The specialist team consists of seasoned life science professionals with healthcare industry, corporate finance and strategy consulting experience, supporting companies through their growth cycle. The team is based in Europe and explores investment opportunities and valuation potential for the portfolio.
Vesalius Biocapital III, launched in April 2017, announced a final close with EUR 120 million in commitments. The fund targets later-stage European life science companies in drug development, medtech, diagnostics and digital health.
For more information please visit: www.vesaliusbiocapital-3.com
About Swisscanto Invest by Zürcher Kantonalbank
Proven specialists develop high-quality investment and pension solutions for private investors, companies and institutions under the Swisscanto Invest by Zürcher Kantonalbank brand. With its Swisscanto Invest by Zürcher Kantonalbank brand, the Zürcher Kantonalbank group is one of Switzerland’s largest fund providers. It is known for its pioneering role in sustainable investments and its funds regularly achieve national and international recognition.
For more information please visit: www.swisscanto.ch
The Belgian Federal Holding and Investment company (Société Fédérale de Participations et d’Investissement / Federale Participatie- en Investeringsmaatschappij; SFPI/FPIM), created on November 1th, 2006, is the sovereign wealth fund of Belgium, driving long-term and sustainable economic and social prosperity. SFPI/FPIM, with the Belgian Government as its sole shareholder, acts as a trusted partner in helping Belgian companies to become a reference in their industry by providing smart capital solutions. In addition, SFPI/FPIM safeguards the long-term stability of the Belgian economy by contributing to the anchoring of strategic assets in both promising and established companies. SFPI/FPIM has about 14 bln in assets under management for the Federal State.
For more information please visit: www.sfpi-fpim.be