Mobidiag Ltd. today announces the completion of the €10m equity investment from Autobio Diagnostics (‘Autobio’), as announced on 18 December 2018, with receipt of all funds.
Proceeds from the €10m equity investment from Autobio will be used by Mobidiag to continue growing its product portfolio, accelerate the development of further assays for the Novodiag® system and enhance its manufacturing capabilities, as well as continuing to facilitate Mobidiag’s commercial expansion.
The Novodiag® platform is an innovative molecular diagnostics solution allowing fully automated detection of infectious diseases, including antibiotic resistances. The platform combines real-time PCR and microarray technologies, to allow direct analysis of samples placed in a disposable cartridge. It also allows for comprehensive screening of multiple or single pathogens within approximately one hour, allowing clinicians to be better informed when making time-critical decisions, helping to deliver early treatments and avoid the spread of infection.
Tuomas Tenkanen, CEO of Mobidiag, said ““We are pleased to welcome Autobio as a shareholder in Mobidiag and we look forward to continuing our work with them as we progress our recently announced joint venture in China. The receipt of the €10m equity investment significantly strengthens our cash position and allows us to continue advancing the diagnosis of infectious diseases and antibiotic resistances through the launch of innovative and affordable molecular diagnostics.”
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About Autobio Diagnostics Co, Ltd
Founded in 1998, Autobio has become one of the leading clinical diagnostics companies in China. Autobio specializes in research & development, production, marketing and service of clinical diagnostic products, including immunoassay, microbiology and biochemical products. Autobio provides comprehensive solutions for medical laboratories.