Last Monday, Belgian Biocartis launched an IPO that quickly raised €100M; the offering was closed a week ahead of schedule. The unquestionable interest of the investors, both in Belgium and internationally, shows the company’s potential and the appeal of its technology.
The company, which raised €64.5M in September in a private financial round, intends to strengthen its R&D and global commercial offerings for Idylla, its main product. The technology consists of a fully automated, real-time PCR-based molecular diagnostics system. The fully integrated system enables clinical laboratories to perform a broad range of applications including oncology and infectious diseases.
Euronext’s results are definitely great news for the Belgian company. The country’s biotechs are flourishing as we already announced some weeks ago with Cardio3 Biosciences’ intention of launching an IPO on NASDAQ.