Skip to main content
Premium Trial:

Request an Annual Quote

Fungal Dx Firm Myconostica Nets $2M to Close out $10.7M Series C

NEW YORK (GenomeWeb News) – British molecular diagnostics company Myconostica has raised £1 million ($1.98 million) to close out a round of Series C financing, according to Amphion Innovations, which owns around 23 percent of the firm.
Myconostica is a University of Manchester spin-out that is developing a molecular diagnostic test for life-threatening fungal infections. It has raised a total of £5.4 million ($10.7 million) in the Series C round, Amphion said.
The final £1 million to close out the round came from the UMIP Premier Fund, which paid £40 per share for its stake in the company.
In April, the company raised £3.9 million from Amphion, the French company Innoven Partenaires, and other unnamed international and UK-based investors.
The Series C round is tabbed to support commercialization of the company’s first diagnostic, which simultaneously tests for Aspergillus and Pneumocystis, as well as its second product, a fungal DNA extraction system.
Amphion said in April that those products were in the process of CE marking in Europe, and that Myconostica expects to launch a product or products in the US in the fourth quarter of 2008.
The Aspergillus and Pneumocystis fungi can cause fungal pneumonia, which the company said is the leading cause of infectious death in leukemia and is the second most common first manifestation of AIDS. The test can detect these fungal infectious in less than four hours, according to the company.

The Scan

Not Immediately Told

The US National Institutes of Health tells lawmakers that one of its grantees did not immediately report that it had developed a more infectious coronavirus, Science says.

Seems Effective in Kids

The Associated Press reports that the Pfizer-BioNTech SARS-CoV-2 vaccine for children appears to be highly effective at preventing symptomatic disease.

Intelligence Warning on Bioeconomy Threats

US intelligence warns over China's focus on technologies and data related to the bioeconomy, the New York Times reports.

PLOS Papers on Campylobacteriosis Sources, Inherited Retinal Dystrophies, Liver Cancer Prognosis

In PLOS this week: approach to uncover source of Campylobacteriosis, genetic risk factors for inherited retinal dystrophies, and more.