Biocartis Raises EUR 100 Million In Successful Initial Public Offering
Aescap is pleased to inform you that today its portfolio company Biocartis N.V. has announced the results of its initial public offering. The shares will start trading on the Euronext stock exchange on Monday April 27th under the ticker symbol BCART.
The accompanying press release can be found on Biocartis’ website: https://investors.biocartis.com/en/welcome
Biocartis’ goal from the start has been to provide patients direct access to personalized medicine by providing broadly applicable molecular diagnostics. Whilst the company was initially based on a highly innovative multiplex diagnostics tool the focus changed when Biocartis boldly acquired a partially developed diagnostics product from Philips. The latter was developed into a fully automated, real-time PCR based molecular diagnostics system coined Idylla™. It was released into the market last year.
Aescap led Biocartis’ first financing round in 2009 and has since been actively involved in the company. Initially by providing the Chairman of the Board and later in various other Board functions.
True to our founding principles, Aescap’s participation in Biocartis can be seen as a continuum based on long-standing relations. Biocartis’ founder Rudi Pauwels and Dinko Valerio had successfully worked together before on another company. This dates back to 1998 when Crucell decided to spin off its genomics activities. This led to the creation of Galapagos Genomics as a joint venture between Crucell and Rudi Pauwel’s first company: Tibotec/Virco.
We praise Biocartis management and staff for having built such an amazing company over the past years. We are humbled when we take measure of your accomplishments and proud to have been given the chance to play a supportive role in this European success story.
The technology and product that originally formed the basis of Biocartis has been spun out in Mycartis, a private company in which Aescap also holds a minority stake.
Following the successful sale of EOS and ActoGenix, Biocartis is Aescap’s first portfolio company to get a public listing. Aescap’s shares in Biocartis will be subject to a lock-up proviso as is common in the industry.
With kind regards,
The Aescap Partnership
Tel: 0031 20 5702940