How attractive is the crazy medical diagnosis of old investment institutions such as Gimv and VIB?
A startup wants to develop, money is not omnipotent, but no money is impossible. Multiplicom, a company with an initial capital of only 2 million euros, has continuously attracted many investment companies such as Gimv and VIB for several years, and the total capital has increased more than five times. Why?
Multiplicom is the world's leading provider of laboratory diagnostic materials, focusing on the development and production of genetic testing kits based on the latest molecular biology diagnostic technologies that greatly reduce the cost of personalized medical testing in clinical laboratories. Its predecessor was a spin-off company of the University of Antwerp and VIB.
At the end of 2012, the BRCA test kit developed by the company for assessing the susceptibility to breast and ovarian cancer was awarded the European Union in vitro diagnostic CE certification and was the first European company to receive this product certification.
Subsequently, in 2016, the BRCA Tumor MASTR Plus Dx test kit developed by the European Union in vitro diagnostic (IVD) CE certification, which is also the first European ovarian cancer accompanying test kit to obtain this certification. In the next few years, Multiplicom's other three diagnostic box products have also received CE certification for in vitro diagnostics in the European Union.
Company founder
Prof. Dr. Jurgen Del Favero, founder and chief technology officer of the company, has made outstanding contributions in the field of molecular diagnostics. He is a professor at the University of Antwerp and leads the application of molecular genomic units at VIB.
Financial status
As an emerging molecular diagnostics company in Belgium, Multiplicom's company funds were only 2 million euros from the beginning of 2011, followed by Gimv and VIB 2 million euros financing on April 27 of the same year, and Qbic Fund in February 2013. The second round of financing of Gimv and VIB totaled 5.5 million euros. With the investment of companies such as Qbic Fund, Gimv, VIB and PMV, Multiplicom's business has grown rapidly and the total funding has now reached 10.3 million euros .
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