18 February 2020 - - Belgium-based healthcare technology company OncoDNA has completed a EUR 19m (USD 20m) series B equity financing, the company said.

The new funding will support rapid international growth, accelerate software development and hiring initiatives.

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

This represents another landmark achievement after the EUR 8m series A fundraising closed in September 2016.

OncoDNA is now maximizing the fast and proper rollout of its oncology clinical decision support software OncoKDM with the objective of becoming the European leader in oncogenomic data interpretation and reporting to further support molecular laboratories, healthcare professionals and the pharma industry in their daily research and clinical practice.

OncoDNA is a private, oncology-focused healthcare technology company that combines advanced, comprehensive testing of all clinically relevant cancer biomarkers (DNA, RNA and protein profiles) from both solid and liquid biopsies with a proprietary cancer treatment knowledge database.

This one-stop-shop analysis and interpretation service gives oncologists actionable results to enable the selection of treatments tailored to the individual patient's cancer profile.

For laboratories worldwide with NGS facilities who would like to reach the same level of expertise, we provide them with state-of-the-art interpretation software to improve their oncology-oriented analyses routine work.

The software OncoKDM is a web-based tool that processes oncology raw NGS data to turn data into clinical insight such as treatment options or clinical trials.

OncoDNA also works in collaboration with the biopharma industry to develop and deliver the treatments of tomorrow by assisting with design, enrolment and assessment of clinical trials as well as increasing access to approved precision medicines.

The company is based in Gosselies, Belgium, employs 50 employees in four countries, works with an international network of 35 distributors covering approx. 50 countries and is collaborating with a sub-contracted laboratory of 300 collaborators.