Mobidiag Secures Additional €4 Million in Capital Increase with Springvest´s Public Financing Round
Published on 24 May 2018
Mobidiag Ltd. announced today that it has successfully completed a 4 million euros funding supported by the Finnish investment service company Springvest Oy (former Kansalaisrahoitus). This funding was completed before the closing date by more than 200 investors and aims at supporting Mobidiag in its global business development, including its capacity to answer growing needs for the new Novodiag® solution.
Mobidiag has been using its expertise in the detection of gastrointestinal infections and multi-drug resistant organisms, also known as “superbugs”. Product lines currently available (Amplidiag® and Novodiag®) are well suited for all types of laboratories bringing effective DNA technique closer to patients in a user-friendly and economically effective format, reducing overall healthcare costs and directing better patient treatment.
“The path from the tri-party merger in 2013 to this point has been lengthy and full of challenges which we have all, one by one, successfully tackled. Thanks to innovative product releases and significant support from our investors, Mobidiag is an acknowledged partner and a key player in the highly competitive market of molecular diagnostics. This translates clearly through this new public financing round which we successfully completed in less than 3 weeks. We are very happy that Springvest has been able to support us again in this process and to witness with us such great involvement from investors”, says Tuomas Tenkanen, CEO of Mobidiag.
“We are delighted to work with the Mobidiag team as they continue to innovate, roll out new solutions and expand their business internationally. Their progress in achieving key milestones has been impressive. It is our great pleasure to support the most promising Finnish success stories”, comments Terhi Vapola, CEO of Springvest.
This new funding will allow Mobidiag to scale up its production of Novodiag instruments and disposable cartridges, as well as to strengthen its sales and marketing activities globally.