The Dublin-based company also aims to raise up to €5 million this year to support additions to its R&D and sales and marketing teams.
A separate UCSF group has already begun implementing a different version of the metagenomic sequencing assay in the clinic.
The university's researchers have developed a laboratory test that measures the body's response to infection in the blood, and can distinguish between bacterial and viral meningitis.
The test leverages loop mediated isothermal amplification technology and enables the rapid detection of Neisseria meningitidis directly from cerebrospinal fluid samples.
The Ultra's combination of a lower limit of detection and ability to find dead bacilli after starting TB therapy vastly improves sensitivity compared to other tests, the study’s authors said.
The loan from the European Investment Bank will go toward the development of Stat-Dx's diagnostic platform for detecting infectious pathogens, such as meningitis.
At Tri-Con, UCSF's Charles Chiu discussed validation of a metagenomic NGS test as well as a new project to develop an RNA sequencing panel for Lyme disease.
The study involved 11 sites and 1,560 prospectively collected patient samples and demonstrated high overall positive and negative percent agreement with comparator assays.
The high-throughput system is now approved with the firm's Blood Culture ID, Gastrointestinal, Meningitis/Encephalitis, and the previously approved Respiratory Panel.
The FilmArray ME Panel received a de novo clearance from the US Food and Drug Administration in October.
At a meeting this week, researchers and others discussed the regulatory oversight needed for germline genome editing.
The US Food and Drug Administration has asked questions about Myriad Genetics' GeneSight test, according to Bloomberg.
Researchers report that neutrophil extracellular traps appear to binds gallstones together, according to New Scientist.
In Science this week: approach to infer genotype-by-environment interaction from genetic variants associated with phenotypic variability, and more.