Biocartis

Overview

Biocartis is a molecular diagnostics company based at Generaal De Wittelaan 11B in Mechelen, with a US office in Itasca, Illinois. Its Idylla Platform is a fully automated sample-to-result, real-time PCR system that delivers molecular biomarker results in about 3 hours. The company offers tests for lung, skin, thyroid, colorectal, endometrial, blood, brain and breast cancer and has more than 2,500 Idylla placements in over 95 countries. The company was founded in 2007 by Rudi Pauwels, who led it for about a decade and left in 2017. Biocartis listed on the Brussels stock exchange in April 2015 at EUR 11.50 per share. By September 2023 the share traded at EUR 0.29 and accumulated losses were close to EUR 500 million. On 26 September 2023 Biocartis Group NV announced a delisting without compensation for shareholders. The recapitalization completed in November 2023 converted approximately EUR 132 million of debt into equity in Biocartis Holdings Inc., which owns Biocartis NV and Biocartis US Inc., and new lead shareholders invested EUR 40 million in cash. The US funds Whitebox and Highbridge became majority owners. In August 2025 the former listed parent went into liquidation while about 200 jobs in Mechelen were retained. Roger Moody is Chief Executive Officer. Randy Polonsky became CFO in October 2024 and Dr. W. Michael Korn Chief Medical and Scientific Officer in August 2024. On 15 September 2025 the Idylla CDx MSI Test, developed with Bristol Myers Squibb, received FDA Premarket Approval as a companion diagnostic for OPDIVO and YERVOY in colorectal cancer. In 2026 the company announced collaborations with Mayo Clinic, the Medical College of Wisconsin, City of Hope and Discovery Life Sciences.

Funding history

• 2015 IPO: Listing on the Brussels stock exchange in April 2015 at EUR 11.50 per share
• 2023 Recapitalization: About EUR 132M of debt converted into equity in Biocartis Holdings Inc. plus EUR 40M new cash from the new lead shareholders (Whitebox and Highbridge)

Stated facts & numbers

• Founded: 2007
• Founder: Rudi Pauwels
• Headquarters: Mechelen (US office in Itasca, Illinois)
• CEO: Roger Moody
• Employees: About 200 in Mechelen (2025)
• Product: Idylla Platform, results in about 3 hours
• Reach: More than 2,500 Idylla placements in over 95 countries
• Ownership: Biocartis Holdings Inc., majority held by Whitebox and Highbridge
• Listing: Euronext Brussels IPO April 2015; delisted 2023