Belgium-based cancer-focused precision medicine developer OncoDNA attracted €7.7m ($8.6m) in funding on Friday from a consortium including Sofinim, an investment affiliate of diversified conglomerate Ackermans and van Haaren.
The round also included the regional government-owned Regional Investment Company of Wallonia; Bio.be, a unit of research entity Institute of Pathology and Genetics; Inventures, a fund managed by crowdfunding platform MyMicroInvest; and cooperative bank CPH.
Specialised investment vehicle Invest4OncoDNA, private equity and venture capital firm Sambrinvest and Vinsovier also participated in the round.
Founded in 2012, OncoDNA has created a range of products to facilitate personalised medicine for cancer patients. The company’s platform enables molecular tumour profiling, liquid biopsy and treatment efficacy monitoring.
The money will go towards global market expansion, the launch of a software-as-a-service offering and an increase of the company’s patient database through collaboration with academia and pharmaceutical firms, as well as through clinical trials.
The company previously received €1.1m in funding from Bio.be, Invest4OncoDNA, Sambrinvest, and Vinsovier, though further details have not been revealed.
Jean-Pol Detiffe, chief executive of OncoDNA, said: “We have been on the market for two years with very positive feedback from oncologists around the world.
“Now, thanks to these new financial resources, we will be able to expand globally, help more patients have access to our innovative solutions with the goal of reimbursement, and be a key player in the fight against cancer.”