OncoDNA raises 7.7 million euros in equity to fund its ambitious growth programme

OncoDNA raises 7.7 million euros in equity to fund its ambitious growth programme

OncoDNA announces the closing of a new equity round with EUR 7.7 million. This financing was subscribed by the historical shareholders and a new group of investors, led by Ackermans & van Haaren.

The funds will be used by OncoDNA to speed up its already promising international growth even more, develop its innovative SaaS (Software as a Service) platform, and further expand its reference network of oncologists around the world.

The new shares were subscribed for by both the historical shareholders(IPG/bio.be, Invest4OncoDNA, Sambrinvest, and Vinsovier) as well as a group of four new investors (Sofinim NV, an affiliate of Ackermans & van Haaren, SRIW, CPH, and Inventures). Post-capital increase, Ackermans & van Haaren will hold a 15% participation in the company.

The funds raised in this round will be used:

  • to further fuel OncoDNA’s rapid market expansion globally, with the objective of becoming a worldwide leader in the field. The company strives to obtain the reimbursement for its innovative portfolio of services including: (1) OncoDEEP (a unique combination of DNA sequencing and protein analyses of solid biopsies for an enlightened treatment decision-making), (2) OncoDEEP&TRACE which combines analyses on both the solid tumour and the liquid biopsy for the very first time, and (3) OncoTRACE, the first personalised liquid biopsy analysing cell-free circulating tumour DNA to monitor cancer evolution;
  • to pursue the development of its IT platforms with the launch of OncoKDM, a SaaS (Software as a Service) platform linked to OncoSHARE;
  • to increase the size of OncoDNA’s patient database. This will be achieved through clinical studies and scientific collaborations with academia and pharmaceutical companies.

Click here to see the press release.