OncoDiag

OncoDiag is a French company specializing in advanced cancer diagnostics, providing innovative lab tests for early detection and monitoring of various cancers. Founded in 2013 in France, OncoDiag focuses on developing cancer diagnostic solutions. The company has successfully completed three deals, with the most recent being on March 15, 2021, when it raised EUR 1 mn in VENTURE DEBT funding from Bpifrance and Normandie Participations. The total amount raised by OncoDiag to date is EUR 1.

515 mn. OncoDiag specializes in innovative cancer diagnostic solutions, offering a suite of lab tests designed to facilitate the early detection and monitoring of various cancers. Their primary products include Urodiag®, a CE-IVD certified urine-based test aimed at the surveillance of bladder cancer; Prostadiag®, a tissue-based test that predicts non-evolutive localized prostate cancer; and Colodiag®, which is a blood-based test for the screening of colorectal cancer. These products address critical clinical needs such as early detection, patient monitoring, and risk assessment, aiding healthcare professionals in making informed treatment decisions.

Clients include hospitals, diagnostic laboratories, and healthcare providers primarily in European markets. OncoDiag's revenue model is structured around B2B transactions, involving partnerships with healthcare institutions and laboratories that utilize their diagnostic tests. Revenue is derived from the sale of their flagship products, including Urodiag®, Prostadiag®, and Colodiag®, through direct sales agreements or distribution partnerships, ensuring accessibility in diagnostic settings. Contracts with healthcare providers are typical, ensuring that their products meet the needs of end-users, including patients and medical professionals.

Following the EUR 1 mn funding raised in March 2021, OncoDiag plans to utilize this capital to support the development of new diagnostic products and enhance their market presence. The company is actively working on launching additional tests aimed at improving cancer detection capabilities over the next two years. Additionally, OncoDiag seeks to expand its operations into new European markets, targeting regions such as Germany and the Benelux countries by 2023.