PRESS RELEASE: Tuesday, 18 October 2016, 07:00 CEST
Biocartis receives EUR 2.5m strategic grant from Flemish government to support manufacturing capacity expansion
Minister Muyters, Flemish Minister of Work, Economy, Innovation and Sports visits Biocartis on 18 October 2016 to announce the grant
Mechelen, Belgium, 18 October 2016 - Biocartis Group NV ('Biocartis'), an innovative molecular diagnostics company (Euronext Brussels: BCART), today announces that it has received a EUR 2.5m grant from the Flemish Agency for Innovation & Entrepreneurship under its Strategic Transformation Support ('STS') program. Biocartis has received the STS grant in order to support the manufacturing capacity expansion for its Idylla(TM) diagnostics tests as well as to support the training and education of existing and new personnel necessary to operate a new manufacturing line that will be installed in Mechelen.
Ewoud Welten, CFO of Biocartis, commented: "Biocartis is grateful for the financial support it has received from the Flemish government. This is demonstrating the continued commitment of the government to invest in innovation and growth in the Flemish region. The STS grant that we received will further enable us in realising the required expansion of our manufacturing capacity. However and equally important, it will also support our ongoing investment in dedicated people, who in the end are the ones that drive the availability of our high precision and cost effective solutions to customers and patients."
Biocartis is honoured to announce that Minister Muyters will inform Biocartis and its employees about the awarded STS grant during a visit to the company's headquarters in Mechelen, Belgium on 18 October 2016.
Minister Muyters, the Flemish Minister of Work, Economy, Innovation and Sports, commented: "The STS program supports projects that make a significant contribution to the strengthening of the economic development in Flanders. The manufacturing expansion project that is ongoing at Biocartis is an excellent example of this. We as government are pleased to be in the position to further stimulate smart and disruptive innovation in Flanders, as showcased by Biocartis."
Minister Muyters will be accompanied by a delegation of the Flemish Investment Company 'ParticipatieMaatschappij Vlaanderen' (PMV) consisting of Michel Casselman (General Manager) and Roald Borré (Head of Equity Investments).
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Biocartis (Euronext Brussels: BCART) is an innovative molecular diagnostics (MDx) company providing next generation diagnostic solutions aimed at improving clinical practice for the benefit of patients, clinicians, payers and industry. Biocartis' proprietary MDx Idylla(TM) platform is a fully automated sample-to-result, real-time PCR (Polymerase Chain Reaction) system that offers accurate, highly reliable molecular information from virtually any biological sample in virtually any setting. Biocartis launched the Idylla(TM) platform in September 2014. Biocartis is developing and marketing a rapidly expanding test menu addressing key unmet clinical needs in oncology and infectious diseases. These areas represent respectively the fastest growing and largest segments of the MDx market worldwide. Today, Biocartis has five oncology tests and two infectious disease tests. More information: www.biocartis.com. Press Photo Library available here. Follow us on Twitter: @Biocartis_.
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Source: Biocartis Group NV via Globenewswire