Led · Series D · Dec 2024

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.

Participated · Equity · Jul 2024

CytoReason develops computational disease models and AI tools that provide molecular-level insights to inform therapeutic R&D decisions. Its platform is used to prioritize targets and indications, stratify patient populations, compare drugs, and optimize R&D portfolios. The company says its models improve probability of phase 2 success and shorten R&D timelines. Six of the world’s top ten pharma companies use CytoReason’s technology across immunology, inflammation, immuno-oncology, metabolism and other areas. Since expanding its Pfizer partnership in 2022, CytoReason has added three major pharma partnerships and broadened coverage to CNS-related diseases. Its teams publish regularly in top journals (Nature, Cell, Gut) and produced 20 peer-reviewed articles in 2023. The company will use new funding to expand model applications into additional indications, grow proprietary molecular and clinical data, and establish a Cambridge, Massachusetts office.

Participated · Series B · Feb 2021

WuXi Diagnostics builds an open-access innovation enabling platform for integrated diagnostics centered on multi-omics clinical data and multidisciplinary technologies. The platform is designed to continuously launch diagnostic services and products and to empower healthcare innovators to accelerate technology translation from R&D to application. The company leverages Mayo Clinic knowledge and expertise in integrated medicine and maintains an R&D center at Mayo Clinic headquarters in Rochester, U.S. It operates a headquarters and a CAP-accredited independent clinical laboratory in Shanghai and an ISO13485-certified production facility in Suzhou. Led by CEO Dr. Jason Liu and established in 2018, WuXi Diagnostics completed a US$150M Series B to strengthen its platform, advance its integrated diagnostics R&D pipeline, and accelerate global market penetration. The company aims to build a new ecosystem for next-generation diagnostics through its open-access enabling platform.

Participated · Series C · Feb 2021

Pivotal Commware builds a mmWave product ecosystem for extending the wireless edge and increasing coverage for radio access networks, aimed at enabling Fixed Wireless Access (FWA) for mobile network operators. Its product lineup includes the Pivot 5G network repeaters that redirect mmWave signals beyond line-of-sight, Echo 5G subscriber repeaters for indoor penetration through glass, the WaveScape network planning tool, and an Intelligent Beam Management System. The company uses a patented Holographic Beam Forming antenna technology to minimize cost, size, weight, and power consumption. Pivotal offers Pivotal Turnkey Services as an end-to-end solution for planning and deploying FWA and emphasizes low total cost of ownership and fast time-to-revenue for MNOs. The company recently raised $102 million in a Series D to fund aggressive investment in Pivotal Turnkey and to develop next-generation software and hardware, supplemented by capital and cash flow from operations. Pivotal Commware is privately held and headquartered in Bothell, Washington. Pivotal Commware develops communications platforms, systems and applications built on Holographic Beam Forming (HBF) technology to enable cost-effective deployment of 5G millimeter-wave networks for mobile and fixed wireless access. Its product ecosystem includes the WaveScape network modelling tool, Pivot 5G outdoor network repeaters, Echo 5G indoor subscriber repeaters, and an Intelligent Beam Management System (IBMS) for remote management and optimization. The company says HBF antennas increase network speed, capacity and spectral efficiency while minimizing cost, size, weight and power consumption. Pivotal announced the closing of a $50 million Series C led by an affiliate of Tracker Capital Management, with participation from Devonshire Investors, DIG Investment, Thermo, Lux Capital and Bill Gates. Proceeds will be used to expand product support, distribution and R&D across its mmWave ecosystem and to extend offerings into mid-band frequencies including C-Band, CBRS and Band n53. Headquartered in Kirkland, Washington, the company positions itself to scale globally as a 5G telecom infrastructure provider. Pivotal Commware develops metamaterials-based flat-panel antennas and repeater systems intended to boost and extend millimeter-wave 5G signals. Its product lines include the Echo 5G, a customer-installed paddle-like device with an interior "power puck," and the Pivot 5G for operators to extend range and wrap signals around corners. The company demonstrated gigabit-scale indoor transmission rates in recent field trials and plans to begin shipping the Echo 5G to wireless operators in December, with broader appearances expected next year. Pivotal was spun out of Intellectual Ventures in 2016 and is based in Kirkland, Wash.; its prior investors include Bill Gates, DIG Investment, Lux Capital and Thermo Companies. Financially, the company has raised a $17M Series A in 2017 and a $22M Series B that closed last December, and has now secured $10M in convertible-debt financing. The fresh financing is intended to support the product launch and expand headcount, which is approaching 100 employees. Pivotal Commware is a Bellevue, WA–based developer of communications products that use Holographic Beam Forming (HBF). It is the exclusive licensee of metamaterials technology for terrestrial communications markets including cellular, Access-in-Motion (planes, cars, ships, trains and drones) and defense. The company's HBF products have generated significant 4G and 5G interest and been field-tested with Tier 1 operators. Pivotal is working with Globalstar to leverage its technology into future service offerings over Globalstar's terrestrial spectrum. The company was spun out of Intellectual Ventures in 2016. Financially, Pivotal raised $17M in a Series A round with backers that include The Thermo Companies, DIG Investment, Bill Gates, Lux Capital, the family office of Barry Sternlicht and others.

Participated · Equity · Oct 2019

Arranta Bio, formed in May 2019 by Mark Bamforth and Iain Baird, is a CDMO focused on live biopharmaceutical products (LBPs) for microbiome pioneers. The company offers development and manufacturing services to clients seeking to develop and commercialize therapies targeting the human microbiome. It is establishing late clinical and commercial-ready capacity at a new facility in Watertown, Massachusetts. Arranta secured strategic ties with Thermo Fisher Scientific as part of its financing, giving it access to Thermo Fisher’s full suite of products and services. Under the arrangement Arranta will also provide materials to Thermo Fisher for use in gene therapy production. The company added Steve Favaloro as Chief Financial Officer and Lana Gladstein as Chief Legal Officer & General Counsel.