miDiagnostics develops silicon chip–based qPCR diagnostics that deliver miniaturized, rapid, lab-quality tests directly to patients and clinicians. Its platform integrates a nanofluidic processor on a chip with a compact reader to measure a wide array of biomarkers from minimally invasive samples. The company intends to use the funds to accelerate development of a sterility test for batch release and related quality‑control tests for the BioPharma industry using its proprietary qPCR technology. miDiagnostics raised €30M in a Series D round led by Thermo Fisher Scientific, with participation from Alychlo, VMF Invest and Pamica. Founded in 2015, the company emerged from imec’s R&D hub in collaboration with Johns Hopkins University. miDiagnostics is led by CEO Katleen Verleysen and is based in Leuven, Belgium. miDiagnostics develops a next-generation diagnostic platform based on a silicon nanofluidic processor for point-of-care testing. The platform aims to miniaturise and simplify the diagnostics process to reduce costs and enable rapid, comprehensive health analysis. In response to the coronavirus crisis the company adapted R&D toward an ultrafast PCR test for SARS-CoV-2 intended to deliver PCR accuracy with the speed of rapid antigen tests. Field tests have begun, including trials at Brussels Airport, and the company planned a product launch in spring next year. Financially, miDiagnostics signed a €20M loan agreement with the European Investment Bank supported by the European Commission under the InnovFin Infectious Diseases Finance Facility. The funds will be used to scale up processes, accelerate market launch, and support R&D targeting infectious diseases. miDiagnostics develops an ultra-fast point-of-care PCR test that combines lab-quality PCR accuracy with speeds reported to be about 20 times faster than traditional lab PCR machines. The test uses a PCR testcard read by a compact reader and is built on a nanofluidic silicon‑chip diagnostics platform developed by imec and licensed to miDiagnostics in collaboration with Johns Hopkins University. The company is negotiating its first commercial collaborations, finalizing supplier agreements to scale production, and plans pilot programs shortly after summer. miDiagnostics is also discussing commercialization of a rapid PCR‑based breath test for COVID‑19 recently developed by imec, and it intends to develop a broader portfolio of screening, diagnostic and monitoring tests. The firm accelerated its commercial transition after raising €58 million in additional funding, bringing total capital raised since 2015 to €140 million. Management was reinforced with Katleen Verleysen as CEO and Hans Vanderwegen as COO to lead commercial roll‑out and production scaling. miDiagnostics was spun out of imec and is based in Leuven, Belgium; the company was created in 2015. miDiagnostics is a Leuven-based health tech startup developing a silicon-based nanofluidic processor on a chip paired with a compact reader to run clinical biomarker tests from small samples such as fingerprick blood. CEO Nicolas Vergauwe says the company aims to make "diagnostic information as readily accessible as digital information on a smartphone." The proprietary platform, invented by imec and Johns Hopkins University, claims it can measure virtually any biomarker from easily acquired samples. Target use cases highlighted include home monitoring of chronic patients, fast screening for physicians or remote health centers in developing countries, and widespread monitoring during pandemics. The startup has raised €14 million from existing investors plus Dr. Rudi Pauwels and Dr. Ir. Urbain Vandeurzen to speed development and prepare for industrial-scale manufacturing. The funding is intended to accelerate commercialization of remote clinical testing and scale up chip production.

Total raised

$143M

Funding rounds

5

Latest round

Series D

Latest activity

Dec 2024