🏆 Deal of the Week · CW 49/2024
miDiagnostics raised EUR 30M in a Series D funding round; the post-money valuation was not disclosed. The round was backed by Alychlo, Pamica AB, Thermo Fisher Scientific, and VMF Invest. This transaction was recognised as Venionaire DealMatrix Deal of the Week for KW 49/2024.
miDiagnostics — key deal facts
| Company | miDiagnostics |
| Founded | 2015 |
| Headquarters | Heverlee (Leuven), Belgium |
| Amount raised | EUR 30M |
| Valuation | Valuation Remains Undisclosed |
| Round | Series D |
| Investors | Alychlo, Pamica AB, Thermo Fisher Scientific, VMF Invest |
| Sectors | BioTech |
Who invested in miDiagnostics?
The Series D was funded by Alychlo, Pamica AB, Thermo Fisher Scientific, and VMF Invest. The inclusion of Thermo Fisher Scientific, a global leader in life-science instrumentation and diagnostics, is strategically significant, signalling commercial and distribution potential beyond pure financial backing. The presence of multiple Belgian private investors alongside a major industry strategic underscores confidence in miDiagnostics' near-term commercialisation roadmap.
What does miDiagnostics do?
miDiagnostics develops rapid, lab-quality molecular diagnostic tests built on silicon chip technology, enabling point-of-care screening, diagnosis, and monitoring across infectious diseases, women's health, and respiratory infections. Its core platform combines a proprietary RT-PCR nanofluidic processor on a chip with a compact reader, delivering results in under 20 minutes. The company was founded in 2015 as a spin-out from imec and Johns Hopkins University and is headquartered in Heverlee (Leuven), Belgium. CEO Katleen Verleysen, PhD, has led the organisation since May 2021.
miDiagnostics valuation & multiples
No multiples analysis was provided for this transaction, and the post-money valuation remains undisclosed, precluding EV/Sales or EV/EBITDA calculations at this time. As comparable data becomes available, benchmarking against BioTech and in-vitro diagnostics sector multiples will provide context for this deal. Explore current EV/Sales and EV/EBITDA reference ranges on the Venionaire DealMatrix BioTech sector multiples pages.
Explore the benchmarks: Series D.
Frequently asked questions
How much did miDiagnostics raise in its Series D?
miDiagnostics raised EUR 30M in its Series D funding round, announced in December 2024.
What is miDiagnostics's valuation?
The post-money valuation of miDiagnostics has not been disclosed in connection with this Series D round.
Who invested in miDiagnostics?
The Series D was backed by Alychlo, Pamica AB, Thermo Fisher Scientific, and VMF Invest.
When was miDiagnostics founded and where is it based?
miDiagnostics was founded in 2015 and is headquartered in Heverlee (Leuven), Belgium.
Source: original announcement — read the full report.