The Venture Codex

Participated · Equity · Oct 2019

Diamidex develops the MICA-system, a rapid microbial-detection technology that correlates enzyme-based online biosensor analysis with traditional culture-based methods. Its patented approach emphasizes speed, precision, user-friendliness and cost-effectiveness, aimed at faster and more accurate contamination detection. The company targets water managers and industries including food and beverage to streamline testing workflows and improve interpretation of rapid biosensor data. Diamidex positions its solution as a bridge between rapid enzyme analysis and culture-based methods to enable broader adoption of online monitoring. Under founder Sam Dukan, the company plans to roll out the MICA-system across additional industries and new markets. Diamidex is based in Marseille, France. Diamidex develops and commercializes kits for detection of the bacterium Legionella pneumophila in water. The founder, Sam Dukan, consolidated his businesses into the new Diamidex entity and the company now employs 30 staff across Luminy and Meyreuil. Over the past 18 months the company has sold about 2,000 kits, primarily in France, and is expanding internationally (UK, Italy, Belgium, the Netherlands and an initial order to Canada). Diamidex has signed exclusive distribution agreements with General Electric (for nuclear plants and paper mills) and with Dutch firm Hatenboer for maritime customers in the Netherlands and Singapore. The company is continuing R&D and plans to launch at least two new products next year, including one targeting a different bacterium. Management also reports a separate “major discovery” with a patent filed in February and a planned company name change early 2020 tied to that innovation.