Biocartis, a molecular diagnostics company developing and commercializing high quality, easy to use platforms and clinically relevant oncology assays, has completed a $44.5 million Series D equity funding entirely backed by existing investors.

The round was led by the Flemish investment company PMV, and included RMM, Valiance, Debiopharm Group, Korys, Philips, Johnson & Johnson Development, the family office of Dr. Paul Janssen, Luc Verelst, Benaruca and New Rhein Healthcare.

"Completing a major life sciences fundraising in today´s environment is recognition of the significant progress that Biocartis has made over the past year,” said Greg Parekh, the CEO of Biocartis. “We are now a commercial stage organization with a high quality team which has proven it can take platforms from development to commercialization. We now look forward to building our menu of oncology tests; validating, registering and launching the Apollo platform; growing our commercial presence and ultimately helping shape the diagnosis and treatment of cancer."

Rudi Pauwels, chairman and founder of Biocartis, added, "We have once more received a positive signal from our shareholders. They strongly believe in the potential of the company and our goal to becoming a fully integrated global molecular diagnostics company."

Following the fundraising, Roald Borré, representing PMV, will join the Biocartis board of directors.