Micro-Chip chromatography company PharmaFluidics closed a financing round of 7.3 million euro from investors including holding company FPIM-SFPI, and family offices Heran (Annie Vereecken) and RMM (Rudi Mariën). The existing investors PMV, Qbic, Theodorus, Innovation Fund and Volksvermogen reaffirm their confidence in the company and also participated in this financing round.

The VUB spin-off is a disruptive player in the field of micro-Chip Chromatography. Their unique technology – the µPACᵀᴹ column series – offers unprecedented robustness and reproducibility as well as state-of-the-art sensitivity and resolution performance. The first clients – academic labs in bio-analysis, bio-pharmaceuticals and diagnostics companies – have confirmed these outstanding characteristics of the µPACᵀᴹ technology.

The new funds will be used to further develop the Pillar Array technology platform, to expand the µPACᵀᴹ product range, and to scale up production and global sales. “This funding will significantly boost our capacity to support our growth,” said PharmaFluidics’ Managing Director Johan Devenyns.

Intensified commercialization

The company started shipping µPACᵀᴹ columns in September 2017 and has since served proteomics laboratories, medical centers and pharmaceutical companies on three continents: Europe, the USA and Asia. Its pioneering product is very well received and has convinced pioneer users and key opinion leaders in proteomics to use micro-Chip based chromatography.

The unique performance of the µPACᵀᴹ columns brings groundbreaking applications within reach. For example, the robustness and reproducibility allow proteomics data from different labs to be pooled, making reliable big data analysis possible. The miniaturization and sensitivity open the door to point-of-care nano-LC-MS, or ultimately single-cell analyses. This market validation as well as the additional potential in new markets have convinced serial life sciences investors RMM SA and Heran BVBA to participate in the current funding round.

About PharmaFluidics
PharmaFluidics develops and commercializes its unique µPACᵀᴹ range of micro-Chip based chromatography columns for use in biomarker, diagnostics and drug research & development applications in the global biotech and pharma industries. The unprecedented, game-changing sensitivity and separation performance of PharmaFluidics’ µPACᵀᴹ chromatography columns allows to identify substantially more compounds in complex biological samples, such as biopsies, proteome digests, culture media or bio-pharmaceutical actives.

The key expertise and IP estate of PharmaFluidics are the design, lithographic production, and surface treatment of silicon wafers for use as separation devices in liquid chromatography. PharmaFluidics collaborates with an extensive network of centers of excellence, pioneer users and global Mass Spectrometry instrument providers to develop an increasing range of applications.

The µPACᵀᴹ started shipping commercially in September 2017.

More info: www.pharmafluidics.com

About FPIM-SFPI
SFPI-FPIM is the Belgian federal holding company, acting as a government holding company and as investment company, directly and indirectly through equity stakes in venture capital funds and in innovative companies with broad and strategic relevance to society.

More info: www.sfpi-fpim.be

About Mrs. Annie Vereecken

Mrs. Annie Vereecken started as an entrepreneur in gynecological endocrinology and pathology, from where she built a business in clinical labs, which was ultimately sold to Sonic Healthcare in 2010. She has actively re-invested in life sciences companies. including a.o. Argenx, Biocartis, MyCartis, Cartagenia (later acquired by Agilent), Ugentec.

About Mr. Rudi Mariën
Mr. Mariën is an emblematic pioneer and entrepreneur in the Belgian life sciences scene. He was founder, reference shareholder and managing director of BARC group, a clinical research lab and of biotech company Innogenetics, prior to their acquisitions by Cerba and Fujirebio, respectively. Mr. Mariën was a part of many successful regional and international life sciences ventures, both listed and privately held, as investor and deal-maker; these include a.o. Devgen (later acquired by Syngenta), Biocartis, MyCartis, Multiplicom (later acquired by Agilent), Actogenix (later acquired by Intrexon).

About Qbic
Qbic ARKIV Fund is an inter-university venture capital fund that invests in spin-offs from the universities of Ghent, Brussels and Antwerp, their affiliated colleges and university hospitals, and VITO. Qbic I has a capital of 40.7 million EUR under management, and backs start-ups both financially and with hands-on support in their journey towards commercial success. Qbic Arkiv Fund is a joint initiative with PMV.

More info: www.qbic.be

About PMV
PMV is a do and dare company that shapes the economic future of Flanders. PMV finances promising companies from the very start to growth and internationalization. PMV offers tailor-made financial solutions for every entrepreneur with a solid business plan and a strong management team, by providing venture capital, loans and guarantees. An experienced and highly motivated team of 125 professionals endeavors every day to achieve the goal of creating prosperity and well-being in Flanders. By the end of 2017, PMV had a portfolio of about EUR 1.2 billion in assets under management.

More info: www.pmv.eu

About Theodorus Fund
Theodorus is a spin-off fund from the Université Libre de Bruxelles (ULB), focusing on seed and early stage financing. Theodorus III was created in 2013, with more than EUR 20 million under management of which part can be invested in non-ULB spin-offs. Key success factors are a thorough selection and an intense hands-on coaching of the participations from inception to exit.

More info: www.theodorus.be

About Innovation Fund

Created in February 2015, Innovation Fund invests in innovative startups and companies active in the field of chemistry and life sciences. The fund has a capital of EUR 28 million, financed for more than 70% by major companies of the sector such as Total, Solvay, BASF, Sioen, Recticel, Ravago, Arkema, Sioen, Recticel, Soudal, Carmeuse, Hutchinson, Christeyns…, bringing unique industrial support value to the invested projects. The remaining 30% are held by national and regional investment funds, KULeuven, Ghent University, University of Antwerp and ING. Today, the Innovation Fund has already invested in 14 companies.

More info: www.innovationfund.eu

About Volksvermogen
Volksvermogen is an investment company with headquarters in Ghent (Belgium) and one of the reference shareholders of vdk bank. It also invests in two specific areas. In the social economy sector, aiming at an optimum combination of financial and social return, and in innovative companies offering sustainable perspectives. Volksvermogen also supports projects generating a social surplus value.

More info: www.volksvermogen.be