NEW YORK (GenomeWeb News) – Stat-Diagnostica today announced that it has raised €17 million ($22.1 million) in a Series B financing round.
The Barcelona, Spain-based firm said that it will use the funds to complete development of its Near Patient Testing diagnostic system and to clinically validate its first products. The test platform combines molecular and immunoassay techniques in a single device and can provide results in less than 30 minutes, the company said.
Clinical applications will initially focus on testing for infectious diseases, antibiotic resistance, and detection of biomarkers in critically ill patients, said Stat-Diagnostica.
"The Series B financing is a significant milestone that will support our preparation for a European market launch in 2015," Jordi Carrera, CEO and co-founder of Stat-Diagnostica, said in a statement. "Our ability to close the round is proof of the outstanding team behind the company and demonstrates the potential of our technology in the fast growing decentralized diagnostics market."
The financing round was led by new investor Kurma Life Sciences Partners and included the participation of other new investors including Idinvest, Boehringer Ingelheim Venture Fund, and Caixa Capital Risc. Existing investors Ysios Capital and Axis also participated in the Series B round.
Stat-Diagnostica noted that Ysios Capital has become the company's largest shareholder through its latest investment in the firm.