Germany-based molecular diagnostics company Curetis has extended its series B round to €27m ($33.7m) after securing funding from drugs company Roche and molecular biology specialist Qiagen.
The second tranche totalled approximately $18.1m, $8.7m of which was provided by Qiagen and healthcare insurer Achmea, which participated via its LSP Health Economics Fund, formed with Life Sciences Partners in February 2012.
The other $9.4m was supplied by Roche, which participated through its Roche Venture Fund unit; investment firm HBM Partners, which led the round’s first tranche in April 2013; and other investors from the first tranche, including Aeris Capital, Life Sciences Partners (LSP), CD Venture, BioMed Invest, as well as Curetis management and a trustee pool of employees and angel investors.
Forbion Capital and German government-owned development bank KfW Bankengruppe invested in the first tranche, but did not participate this time.
Curetis, which specialises in implants capable of detecting infectious diseases, has now raised €63.5m in total. It had secured €34m in a series A roound backed by Roche Venture Fund, Aeris, LSP, Forbion, CD Venture, BioMed and KfW.
Oliver Schacht, chief executive of Curetis, said: “With the current cash on hand, we are now financed well into 2017. The funds will be used to continue our commercial roll-out in Europe, the FDA trial and to prepare our company for attractive future exit opportunities such as strategic partnerships, M&A or an IPO.”