Belgian OncoDNA closes €19 million Series B to expand its oncology software

OncoDNA

Gosselies-based OncoDNA, the healthtech making precision medicine a reality, today announced that it has completed a €19 million Series B equity financing. The new funding will support rapid international growth, accelerate software development and hiring initiatives.  

OncoDNA, founded in 2012, is a leader in personalised molecular analysis for cancer patients. Its medical innovations assist medical doctors with treatment choice and provide better monitoring of tumor evolution in patients. The company is in the process of launching its oncology clinical decision support software, OncoKDM, with the objective of further supporting molecular laboratories, healthcare professionals and the pharma industry in their daily research and clinical practice.

This new round was led by Vesalius Biocapital III and Swisscanto Invest by Zürcher Kantonalbank, with the support of SFPI-FPIM. Historical shareholders together with CPH Bank, Inventures, Sambrinvest, Sofinim (Ackermans & Van Haaren) and SRIW have also participated.

Guy Geldhof, Partner at Vesalius Biocapital III said: “We are excited about co-leading the Series B investment in OncoDNA. It is thrilling to work with a team that has both world class experience in genomic molecular profiling and a strong desire to serve patients by offering best-in-class support to oncology professionals. We are confident OncoDNA will accelerate the development and commercialization of its valuable new solutions, especially through closer collaborations with the biopharma industry, with the final objective of contributing to better healthcare.”

Robert Schier, Partner at Swisscanto Private Equity Switzerland Growth I KMGK added: “OncoDNA has grown significantly over the past years and are continuing to add the necessary clinical expertise and know-how to act upon its mission. Its disruptive vision and highly integrated market approach make it to be the perfect candidate to rapidly become the European leader in oncology big data. We are delighted to partner with OncoDNA as we firmly believe the company contributes to both a more sustainable healthcare system and improved patient health outcomes.”