BMD raises 9.3 million Euros

The European leader in autoimmune disease diagnostics wins over new investors with its successful Luminex-FIDIS[TM] technology

Marne-la-Vallée, France, May 14, 2003 -- BMD, European leader in advanced biological diagnostics (2002 sales: Euro 19.7 million), announces today it has raised 9.3 million Euros in a new round of financing. Lead investors for this round were Truffle Venture, Europe Innovation and Siparex Ventures, followed by AGF Private Equity, 123 Multinova, and original investors CDC IXIS Innovation, Auriga Partners, Sudinnova and Natexis Ventech. BMD raised 4.6 million Euros in its first round of financing in 2000.
The new financing will enable BMD to accelerate development of its lead product, FIDIS[TM], which the company expects to become an instrumentation standard. FIDIS technology combines the robotics platform of BMD's US partner Luminex (licensed to BMD) and BMD's immuno-analysis proprietary technology. This combination enables multiple, high-throughput autoimmune diagnostics tests to be carried out simultaneously and on a single patient sample. This technology represents a breakthrough approach in autoimmune diagnostics, compared to the labor intensive methods involving separate tests and samples. The new funds will also allow BMD to boost its international commercial development, particularly in the US.
Given the economic environment, BMD had to meet high standards to attract first rate investors. Investors were looking for a proprietary and innovative technology, significant market opportunities, a strong revenue basis and growth potential (BMD has enjoyed a minimum annual growth of 15% since the company's creation), a growing international presence and an experienced and committed management team.
"The quality of the investors and the size of this venture round, despite the tough times, are a huge vote of confidence in our R&D, manufacturing and marketing capabilities," said Daniel Pierron, CEO of BMD. He added: "we look forward to building further BMD's international business."
Philippe Pouletty, MD of Truffle Venture said on behalf of the new investors (Paul-Louis Santy of Siparex Ventures, Laure Ory-Lavollée of AGF Private Equity and Dr Alain Munoz of 123 Multinova): "BMD has achieved a technology breakthrough with FIDIS. This, coupled with the existing revenue stream, was a key factor in our decision to invest. The novel BMD technology and products should meet the expectations of clinicians and biologists both in Europe and the US." He added: "BMD's growing European presence clearly demonstrates the company is committed to achieve success in all the relevant market segments."
Dr Philippe Pouletty and Laure Ory-Lavollée have joined BMD's supervisory board. In addition, Christian Policard, Institut Pasteur's director of licensing and industrial partnerships and former CEO of Sanofi's diagnostics division, will assume the position of deputy chairman of the board. They all bring to BMD a broad international experience in biotechnology.
For further information:,Guillaume, Andrew Lloyd & Associates Ltd,Tel: [phone],E-mail: [e-mail]
About BMD:,BMD (Biomedical Diagnostics) develops and markets advanced biological diagnostic tools for the medical professions. The company boasts a unique combination of experience, knowledge and understanding of the biological diagnostics field. Founded in 1986, the company initially concentrated on building a profitable product distribution business. Increasing knowledge and understanding of the market led the company to establish research and development activities of its own, and today BMD offers its proprietary products to the medical sector. BMD now holds a leading position in the diagnostics market, offering a wide range of solutions in the fields of autoimmune diseases, allergies, and infectious diseases. BMD also offers immunochemical tests for the diagnostics of heart failure and other cardiovascular diseases. In addition to its own products, BMD manufactures products for other international distributors. BMD owns three subsidiaries in Germany, Italy and Spain and manages a network of fifteen distributors in Europe, North Africa and Asia.,

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