News
Diagenode secures €7.5 million in financing
June 20, 2016
LIEGE, BELGIUM - JUNE 20, 2016
Diagenode, a high growth, innovative life sciences company that focuses in epigenetics and molecular diagnostics, announced today that it has secured €7.5 million in financing. The additional capital includes an equity component provided by Epimède SA, SRIW SA, OBI SA and the Capricorn Health-tech Fund NV (CHF, Leuven, Belgium) which is managed by Capricorn Venture Partners NV combined with a loan facility provided by SRIW, OBI and SpinVenture.
Diagenode was founded by Didier Allaer in 2003 and has quickly established a significant presence in the life sciences tools industry. Diagenode is now a leading provider of complete solutions for epigenetics research, offering innovative shearing and automation instruments, reagent kits, and high quality antibodies to streamline sample preparation workflows.
The company has also achieved significant growth in the diagnostics market. Diagenode develops and commercializes CE marked qPCR-based IVD kits for clinical biology laboratories for respiratory, gastric, and urinary infectious diseases. The kits have been developed both through proprietary means as well as through partnerships with major diagnostic companies.
Today the company sells products both direct and through distributors in more than 50 countries. Diagenode reported revenues of €15 million in its most recent fiscal year combined with a positive EBITDA margin. The newly secured financing capital will be used to expand the scale of operations across the company including research and development, sales, and marketing.
Didier Allaer, CEO of Diagenode, stated, “With the additional funding, we can fuel growth of new technologies in both epigenetics and diagnostics. We are also well-positioned to bridge the fields of epigenetics and molecular diagnostics, offering significant opportunity for future growth. Recent research has cites evidence of the epigenetic impact on the etiology of specific diseases which will spur the development of novel tools for diagnostics.”
Philippe Degeer, Investment Manager of Epimède, an investment fund targeting small to medium sized companies with strong growth potential in the technology sector, commented, “We are very pleased to have partnered with Diagenode and other key investment funds to support this ambitious growth project. Our goal is to help the company implement its vision and drive the business to the next level. We are very confident in Diagenode’s ability to deliver an outstanding performance going forward and are excited to be part of this experience.”
Dr. Frank Bulens, Partner at Capricorn Venture Partners, Marc Foidart founder of Epimède and Philippe Degeer, will join Diagenode’s board of directors.
About Diagenode SA
Diagenode is a leading provider of complete solutions for epigenetic research by offering innovative shearing and automation instruments, reagent kits, and high quality antibodies to enable various sample preparation workflows. In the molecular diagnostics field, Diagenode develops kits for clinical biology laboratories particularly for the diagnosis of infectious diseases. The company’s focus in both epigenetics and molecular diagnostics offers exciting perspectives for future growth. Recent research sheds light on the growing evidence of the epigenetic impact on the etiology of specific diseases and disorders which will enable the development of novel diagnostic tools. For more information please visit the company’s website at https://www.diagenode.com
About Capricorn Health-Tech Fund and Capricorn Venture Partners
Capricorn Venture Partners is an independent pan-European venture capital and asset manager seeking to invest in technology based growth companies. Capricorn's dedicated investment teams consists of experienced investment professionals with deep technology expertise and broad industrial experience. Capricorn utilizes Capricorn Cleantech Fund, its Capricorn Health-tech Fund, and the Capricorn ICT Arkiv and manages Quest for Growth, a cross-over fund quoted on EuroNext Brussels, and the Quest Management Cleantech Sicav. For more information, visit http://www.capricorn.be
About Epimède
Epimède SA is an investment fund targeting small to medium size companies with strong growth potential in the technology sector. Epimède SA manages a Belgian private equity fund (PRICAF) with a life of 12 years for a dozen investments over the next three to four years.
About SRIW
The SRIW Group contributes to the economic development of the Walloon Region of Belgium through partial financing of Walloon companies or development projects located in Wallonia. It invests in growth, alongside private investors through loans and equity. For more information, visit http://www.sriw.be/fr/
About OBI, Ostbelgieninvest SA
Ostbelgieninvest AG is a regional semi-public investing company offering venture capital for SME’s in all sectors. OBI acts as a financial partner for start-up and expansion investments, shareholder changeovers, succession within the family, buyout funding and project funding and creates most partnerships by means of a capital investment or subordinate loans.” For more information, visit http://obi.be/
