BforCure, a company specialising in bio-detection, raises 8.2 million euros to strengthen its production capacities and diversify its range of PCR tests in less than 15 minutes
Created in 2018, BforCure, a company that develops and markets an ultra-fast PCR health diagnostic platform, announces new fundraising of 8.2 million euros. The growing company aims to strengthen its production capacity to meet market demand and to accelerate its R&D projects. It intends to develop and soon launch a dozen new delocalised PCR tests for detecting infectious diseases in less than 15 minutes and as close as possible to healthcare professionals and patients.
A Healthtech that relies on local production
Since 2018, BforCure has continued to develop and has now become “THE” healthtech startup specialising in the rapid biodetection of pathogens responsible for infectious diseases using proprietary and patented technologies.
After raising 2 million euros from ID Solutions in September 2021, BforCure is now raising 5 million euros from several medical diagnostic family offices and has obtained 3.2 million euros from the Ministry of Higher Education, Research and Innovation, as part of the Health Innovation 2030 Plan.
Thanks to this, the company wishes to strengthen its production capacities for its Chronos automaton and its PCR test kits (spaces, new production lines, automation) to meet the growing demand of its clients and the in vitro diagnostics market, in France and internationally. Its objective is to multiply the rate of production of its solutions by five to meet emerging needs.
From the beginning of its history, the company chose to internalise in France the R&D and the production of its Chronos platform (hardware and software) and its PCR test kits. This desire also encourages the maximum use of French partners and suppliers. This approach is part of the desire to control all stages of product design and production, to control the entire value chain, to ensure the high quality standards inherent in health products, to be as close as possible to the ecosystem (universities, engineering schools, research laboratories, health establishments, etc.).
“This operation will enable BforCure to finance the strengthening of its production resources to meet the growing demand from healthcare professionals who wish to carry out infectious diagnostic tests simply and very quickly, delivering accurate results, at a cost accessible to the greatest number of people and allowing them to be relocated as close as possible to the places where patients are cared for. In addition, we must position our post-Covid solution, by expanding its range of tests”, continues Mael Le Berre, Co-Founder of BforCure.
BforCure, diversifies its offer of biological diagnostic tests
Since its creation in 2018, BforCure has invested more than 10 million euros in R&D to develop innovative molecular diagnostic solutions based on proprietary technologies to quickly detect and prevent biological risks and reduce their health, economic and environmental impacts.
Last September, the company launched, in France and abroad, the first version of its Chronos DX platform, a mobile and connected solution allowing PCR diagnostic tests including Covid-19 to be carried out in less than 15 minutes, intended for medical biology laboratories, hospitals, residential homes for the elderly, emergency medical services, firefighters, airports, congress halls, cultural centres, etc. Since its release, nearly 50,000 PCR tests have been performed with the Chronos DX platform.
In the coming months, and as soon as it has obtained the CE IVD markings, BforCure plans to market around ten new infectious diagnostic tests as close as possible to the place of care for patients (point-of-care) to detect:
- SARS-CoV-2 variants,
- sexually transmitted infections,
- respiratory diseases,
- gastroenterology,
- papillomavirus,
- antibiotic resistance.
By the end of 2022, BforCure aims to:
- strengthen the production of its solutions to meet the needs of its clients and the market,
- pursue the development of its offer on the infectious diagnostics markets,
- reach a workforce of 120 employees to support its growth.
As part of this transaction, Banque Delubac & Cie – CIB acted as advisor to BforCure.
About BforCure
Created in January 2018, BforCure is a French company employing 70 people based in Montreuil (93). It designs and develops infectious diagnostic solutions for the medical, veterinary, defence and industrial sectors. It is recognised today for its Chronos solution: operational, mobile, modular and connected, enabling the detection of a pathogenic microorganism in 15 minutes.
More information on: https://www.bforcure.com/fr/accueil/
About Banque Delubac & Cie
Created in 1924, Banque Delubac & Cie is an independent financial institution offering specialised banking and financial services. With over 200 employees, it is present in Paris, Lyon, Toulouse, Valence and Le Cheylard (historic head office, located in Ardèche).
Its Corporate & Investment Bank department has been developing for 10 years advisory services for mergers and acquisitions, engineering and financial operations for listed and unlisted companies.