Inveready leads €3.5 million round for biotech Hawk Biosystems for its cancer diagnostic technology

✦ Meridian Analysis

Inveready has closed a €3.5 million equity round for Hawk Biosystems, with the European Commission’s EIC Fund and the Basque Government’s Basque Fund also participating. The transaction, signed in early October, gives Hawk a total capital raise of €12.5 million since its founding. The company, which has 21 employees and a first product line launched in 2025, is moving from a technology‑provider model to a clinical diagnostics business, targeting a CE‑mark‑qualified test for non‑small cell lung cancer in 2027 and a first hospital‑based test launch that year. The deal is a straightforward minority equity injection; the sources do not disclose a valuation, use of proceeds beyond the stated expansion plans, or the names of advisers. According to MarketsandMarkets, the global market for companion diagnostics is projected to grow from about €5.6 billion in 2026 to €11.6 billion by 2031, at a compound annual growth rate near 13 %. The funding also supports the company’s planned expansion into the EU and US markets and the regulatory pathway under the new IVDR. What remains undisclosed is the valuation at which Inveready and the co‑investors entered the round, the detailed structure of the equity (e.g., preferred versus common), and any advisory or legal counsel involved. Regulatory approvals for the CE mark and the first clinical test launch are still pending, and the company has set a target of the second quarter of 2027 for the launch. Observers will also watch for any future moves toward a public listing under the BME Pre‑Market programme, which could provide a liquidity exit for the new investors.

The Meridian Weekly