TU Delft and UMC Utrecht spinout MILabs has been purchased by Rigaku Corporation, which plans to use its medical imaging technology in drug development.

Scientific instrument producer Rigaku Corporation has paid an undisclosed amount to acquire MILabs, a Netherlands-based medical scanning system developer spun out of University Medical Center Utrecht and TU Delft. MILabs has created a multimodal system that incorporates X-ray computed tomography (CT), positron emission tomography (PET), single-photon emission computed tomography (SPECT) and optical imaging capabilities. Frederik Beekman, head of TU Delft’s Biomedical Imaging department, is the founder, chief executive and chief scientific officer of the company. Thuja Capital Healthcare Fund II and Value Creation Capital had combined to provide an undisclosed amount of funding for MILabs in 2016. Rigaku said it bought the spinout for the potential of its technology in the development of new therapeutics. Paul Althuis, director of TU Delft’s investment arm, Delft Enterprises, said: “TU Delft not only conducts ground-breaking research, but wants to make an impact for a better society as well. “That is why we support the development of a spinoff company like MILabs, which has the potential to impact the lives of patients through better imaging. We congratulate Professor Beekman with the acquisition of MILabs by Rigaku Corporation and look forward to continuing our research cooperation.” Jaap de Bruin of Utrecht Holdings, UMC Utrecht’s tech transfer office, added: “We are very proud of what Dr Beekman and the MILabs team have achieved, and are thrilled to see its next steps. “Since its inception, we have been supporting MILabs and have witnessed their growth into a world leader in preclinical imaging. They exemplify our mission to bring world-class research to societal and economic impact.”

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.