STAT-Diagnostica closes €17-millions round of funding with international investors
This is the most important investment that has taken place in the Spanish biotechnology and medical technology sector in recent years.
By Biocat
Catalan firm STAT-Diagnostica was the focus of the largest investment that has taken place in the Spanish biotechnology and medical technology sector in recent years, valued at €17 millions. Paris-based venture-capital company Kurma Life Sciences Partners led the operation. Kurma Life Sciences Partners manages more than €135 millions and is supported by two benchmark investors, Natixis of the BPCE group (second largest bank in France) and the public body Caisse des Dépôts et Consignations (CDC).
The commitment to this company, as partner at Kurma Life Sciences Partners Rémi Droller explained, is "motivated by their great potential both from a technological standpoint, with their diagnostic platform, and the products they expect to develop."
Other participants in the capital increase include Idinvest Funds (France), Boehringer Ingelheim Venture Fund (Germany), Caixa Capital Risc and prior investors Ysios Capital —which thus becomes the main equity holder— and Axis. This is the second round of funding for STAT-Diagnostica. The first, valued at €2 millions, was carried out in mid-2011 with Ysios Capital.
Founded in 2010 in the Barcelona Science Park (PCB), STAT-Diagnostica has developed an innovative diagnostic platform (DiagCORE) that brings together molecular diagnostics and immunoassay capabilities in a single system, cutting current diagnostic times in some cases from various days to just one hour or even 15 minutes. Its main applications are geared towards detecting infectious diseases, determining resistance to antibiotics and measuring biomarkers in patients in critical condition or in emergency situations. The speed with which results are obtained will help doctors apply the best treatment right from the beginning.
This financial support will allow the company to begin the industrialization process for this diagnostic system and carry out clinical validation on its first products, "giving us the resources needed to reach the European market in 2015," commented Jordi Carrera, co-founder and CEO of STAT-Diagnostica.
"In less than two years, the company has gone from an idea to preindustrial validation of the technology, as well as attracting specialized international investors that confirm its potential and uniqueness. It is undoubtedly excellent news that lends credibility and increased visibility to the sector," says Raúl Martin-Ruiz, director of investment at Ysios Capital.
Grant Thornton and Cuatrecasas Gonçalves Pereira are the financial and legal advisors for the new investors, respectively, and Rousaud Costas Duran, the legal advisor for the company.
STAT-Diagnostica is one of the companies that have participated in the BioEmprenedorXXI program promoted by "la Caixa", Barcelona Activa and Biocat, an initiative aimed at supporting researchers with business ideas that want to set up a company in the life sciences arena.
This good news for the biotechnology sector in Catalonia comes in addition to other noteworthy operations in 2012 and 2013, including investment in Genmedica Therapeutics (€12 millions), AB-Biotics (€5 millions), Life Science Entrepreneurs (€2 millions), Minoryx Therapeutics (€1.5 millions), Ability Pharma (€2.2 millions in 2012 and 2013), iMicroQ (€1.1 millions), Aquilón (€2 millions), and Inbiomotion (€2 millions), among others, and Grifols’ acquisition of 40% of the equity of biotechnology firm VCN Biosciences and the IPO of Inkemia IUCT Group on the MAB and their upcoming capital increase of €2.5 millions.