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Biocartis Group NV: Biocartis attracts EUR 55 million non-dilutive financing


Wednesday, 20 July 2016, 07:00 CEST


Mechelen, Belgium
July 2016 -
Biocartis Group NV ('Biocartis'), an innovative molecular diagnostics company
(Euronext Brussels: BCART), today announces that it has attracted a total of
EUR 55m of non-dilutive financing, consisting of a EUR 40m bank and lease
financing facility and a EUR 15m subordinated loan. The funds will be used to
finance the expansion of Biocartis' manufacturing capacity for its
IdyllaTMdiagnostics tests, to refinance an existing loan of EUR 5m and to
strengthen the company's financial position to continue to execute its
strategic plan.

The bank and lease financing facility is provided by KBC Bank and KBC Lease
and includes a partial guarantee by the Flemish Government through Gigarant,
managed the Flemish Investment Company 'ParticipatieMaatschappij Vlaanderen'
(PMV). The new subordinated loan is provided by a consortium of PMV and the
Belgian 'Federal Holding and Investment Company' (FPIM).

Commenting on the new financings, Ewoud Welten, Chief Financial Officer of
Biocartis, said:

"The new bank facility and subordinated loan strengthen our capitalisation and
will further support us in realising our ambitious growth trajectory. It also
underlines Biocartis' ability to attract funding beyond equity capital
markets from reputable debt financing partners that acknowledge our potential
within the molecular diagnostics market. We are pleased with the continued
support of KBC and PMV and much welcome FPIM and Gigarant as new partners."

Bank and lease financing facility

The bank and lease financing facility provided by KBC consists of three

* EUR 15m lease financing;
* EUR 15m rollover credit line; and
* EUR 10m working capital credit line.

The lease financing will be used to fund the equipment of a second Idylla(TM)
cartridge manufacturing line that Biocartis ordered end of 2015. Furthermore,
the two lines of credit that Biocartis now has at its disposal can be used to
fulfil certain future financing needs in, amongst others, working capital.
Both lines of credit are partially guaranteed by Gigarant.

The lease financing has a five year duration and the rollover credit line a
four year duration. The working capital credit line is provided until further

Wim Eraly, Senior General Manager KBC Bank, added:
"KBC is dedicated to support highly innovative companies such as Biocartis,
which we underlined today with this new financing facility. We have been a
long term partner to Biocartis and look forward to further support the
company in realising its ambition to disrupt the global molecular diagnostics

Subordinated loan

The new EUR 15m subordinated loan provided by PMV and FPIM has a duration of
five years. Part of the proceeds from this loan will be used to refinance the
company's current subordinated loan of EUR 5m (excluding accrued interest
charges) that is due end of 2016.

Roald Borré, Head of Equity Investments of PMV, added:
"We are pleased to play an important role in the further financing of
Biocartis' business. Enabling companies like Biocartis to be successful
positively impacts the Belgian economy in terms of employment and growth of
local knowledge. Both being elements that FPIM and PMV actively want to


- END ---

For more information:

Renate Degrave, Corporate Communications&Investor Relations
+32 15 631 729

About Biocartis

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 on the market. More
information: Press Photo Library availablehere. Follow us
onTwitter: @Biocartis_.

Certain statements, beliefs and opinions in this press release are
forward-looking, which reflect the Company or, as appropriate, the Company
directors' current expectations and projections concerning future events such
as the Company's results of operations, financial condition, liquidity,
performance, prospects, growth, strategies and the industry in which the
Company operates. By their nature, forward-looking statements involve a
number of risks, uncertainties, assumptions and other factors that could
cause actual results or events to differ materially from those expressed or
implied by the forward-looking statements. These risks, uncertainties,
assumptions and factors could adversely affect the outcome and financial
effects of the plans and events described herein. A multitude of factors
including, but not limited to, changes in demand, competition and technology,
can cause actual events, performance or results to differ significantly from
any anticipated development. Forward-looking statements contained in this
press release regarding past trends or activities are not guarantees of
future performance and should not be taken as a representation that such
trends or activities will continue in the future. In addition, even if
actual results or developments are consistent with the forward-looking
statements contained in this press release, those results or developments may
not be indicative of results or developments in future periods. As a result,
the Company expressly disclaims any obligation or undertaking to release any
update or revisions to any forward-looking statements in this press release
as a result of any change in expectations or any change in events,
conditions, assumptions or circumstances on which these forward-looking
statements are based. Neither the Company nor its advisers or representatives
nor any of its subsidiary undertakings or any such person's officers or
employees guarantees that the assumptions underlying such forward-looking
statements are free from errors nor does either accept any responsibility for
the future accuracy of the forward-looking statements contained in this press
release or the actual occurrence of the forecasted developments. You should
not place undue reliance on forward-looking statements, which speak only as
of the date of this press release.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Biocartis Group NV via Globenewswire


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