Logo

Novacyt Raises $2.3M to Support Launch of Cytology Platform in China

Apr 14, 2015 | staff reporter

NEW YORK(GenomeWeb) – Novacyt said on Monday that it raised €2.2 million ($2.3 million) in a private equity placement. 

The financing will be used to accelerate the launch of the firm's cytology platform NovaPrep in China with its distribution partner, Danaher's Leica Biosystems. The firms announced a distribution agreement for that country last month. 

As a result of the financing, the launch of NovaPrep in China has been moved up to the second quarter of this year compared to previous expectations of a second-half 2015 launch, the Paris-based cellular diagnostics firm said. The proceeds will be used to purchase stock and invest in infrastructure in preparation of the launch. 

Current investor Alto Invest and new investor Nyenburgh of Amsterdam participated in the placement, Novacyt said. In March the company raised €3.1 million in a private equity placement.

Filed under

Business News
Infectious Disease
private financing
cell-based diagnostics
Breaking News
The Scan

Machine Learning Helps ID Molecular Mechanisms of Pancreatic Islet Beta Cell Subtypes in Type 2 Diabetes

The approach helps overcome limitations of previous studies that had investigated the molecular mechanisms of pancreatic islet beta cells, the authors write in their Nature Genetics paper.

Culture-Based Methods, Shotgun Sequencing Reveal Transmission of Bifidobacterium Strains From Mothers to Infants

In a Nature Communications study, culture-based approaches along with shotgun sequencing give a better picture of the microbial strains transmitted from mothers to infants.

Microbial Communities Can Help Trees Adapt to Changing Climates

Tree seedlings that were inoculated with microbes from dry, warm, or cold sites could better survive drought, heat, and cold stress, according to a study in Science.

A Combination of Genetics and Environment Causes Cleft Lip

In a study published in Nature Communications, researchers investigate what combination of genetic and environmental factors come into play to cause cleft lip/palate.