Belgian cancer medicine provider OncoDNA pulls in funding

Belgium-based OncoDNA SA, a provider of medicine for cancer patients, has raised 7.7 million euros in funding. Ackermans & van Haaren led the round.

PRESS RELEASE

Gosselies, Belgium, 2 September 2016

Thanks to OncoDNA SA, precision medicine for cancer patients is now within reach. The Belgium-based company offers cutting-edge, high standard diagnostic and theranostic solutions and aims to provide oncologists with the most accurate data obtained from molecular tumour profiling (OncoDEEP) to personalised liquid biopsy (OncoTRACE). These solutions help guide oncologists in their choice of drug treatment options and treatment efficacy monitoring. Today, OncoDNA announced the closing of a EUR 7.7 million equity financing.

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) subscribed to the new shares. ‎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.

OncoDNA, founded three years ago, has already partnered with more than 200 healthcare institutions across 50 countries and has registered a significant growth worldwide. Its innovative reporting, sharing, and networking platform, OncoSHARE, now hosts the largest cancer community of oncologists, patients, and relatives with approximately 10,000 people using it.

Oncology is the first therapeutic area where personalised treatments will be applied by combining diagnostic tools, knowledge databases, and therapeutic drugs.

OncoDNA is currently very well positioned to be a key reference player in this scientific revolution in motion for the benefit of patients.

Concerning this significant milestone for OncoDNA, Jean-Pol Detiffe, CEO, commented, “We have been on the market for two years with very positive feedback from oncologists around the world. Now, thanks to these new financial resources, we will be able to expand globally, help more patients have access to our innovative solutions with the goal of reimbursement, and be a key player in the fight against cancer.”

About OncoDNA
OncoDNA, The Cancer Theranostic Company, is specialised in precision medicine for cancer treatment. OncoDNA’s team provides daily support to oncologists from all over the world, helping them to find new treatment options for their advanced cancer patients.

Thanks to its network of distributors, which are present in more than 50 countries on 5 continents, OncoDNA receives specimens coming from all parts of the world every year. OncoDNA has been developing a community of oncologists and patients that brings together more than 10,000 people.

In 2015, OncoDNA received the “Most Promising Company of the Year” award from Ernst&Young as well as the “Most Disruptive Innovator” award from Deloitte.

About AvH
Ackermans & van Haaren is a diversified group active in 5 key sectors: Marine Engineering & Infrastructure (DEME, one of the largest dredging companies in the world, and CFE and A.A. Van Laere, two construction groups with headquarters in Belgium); Private Banking (Delen Private Bank, one of the largest independent private asset managers in Belgium, asset manager JM Finn in the UK, and Bank J. Van Breda & C°, a niche bank for entrepreneurs and liberal professions in Belgium); Real Estate & Senior Care (Leasinvest Real Estate, a public regulated real estate and Extensa, an important land and real estate developer focused on Belgium, Luxembourg, and Central Europe); Energy & Resources (Sipef, an agro-industrial group working in tropical agriculture); and Development Capital (Sofinim and GIB). On the economic front, thanks to its share in its participations, the AvH Group represented a turnover of EUR 5.3 billion and employed 22,077 people. The Group concentrates on a limited number of strategic participations with significant potential for growth. AvH is quoted on the BEL20 index, the Euronext Brussels Private Equity NXT index, and the European DJ Stoxx 600.

About CPH
As the last private independent player based in the French-speaking part of Belgium, Banque CPH is a local cooperative bank, with a network of approximately 30 branches located throughout the Hainaut, Namur, and Walloon Brabant provinces.
In order to secure its future, Banque CPH relies on a strong financial structure (solvability ratio above 16%), has never applied for any State aid at any time, and mainly reinvests its clients’ deposits into the local economy. For more information, please visit www.cph.be.

About Inventures
Inventures is a EUR 15-million investment vehicle managed by MyMicroInvest. Inventures focuses on impact investing, positioning itself as a social venture capital fund. Together with the crowd, Inventures holds shares in young companies that provide solutions to societal problems, including health, education, the environment, society, and the economy. Inventures is unique because it involves the crowd in selecting, investing, and supporting the companies it funds through the MyMicroInvest platform.

About SRIW
The SRIW Group (Société Régionale d’Investissement de Wallonie/ Regional Investment Company of Wallonia) contributes to the economic development of Belgium’s Walloon Region through partial financing of companies or development projects located in Wallonia. It invests in growth, alongside private investors, through loans and equity. For more information, please visit http://www.sriw.be/fr/.