GIMV leads €8.5m financing for Peakadilly

GIMV, a listed Belgian private equity house, and Life Science Partners, a Dutch venture capital firm, have led a €8.5 million ($11 million) series A financing of Peakadilly, a Belgian biotechnology business.

KBC Private Equity, the private equity arm of Belgium-based KBC Group, and Baekeland Fonds II, the venture capital fund of the Ghent University Association, invested alongside GIMV and Life Science Partners in the first round financing.

Life Science Partners partnered with Johnson and Johnson Development Corporation, the healthcare focused subsidiary of Johnson and Johnson, invested €6 million in start-up funding in March 2006. In total, Peakadilly has raised €14.5 million in venture capital funding.

Founded in 2004 at VIB, a Belgian biotechnology research institution, Peakadilly develops protein biomarker discovery technology used in biomolecular diagnostics and drug discovery and development.