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GNA Biosolutions Closes $13.5M Series C Round

NEW YORK — German molecular diagnostics firm GNA Biosolutions said today that it has closed a $13.5 million Series C financing round.

The round included existing investors SHS Gesellschaft für Beteiligungsmanagement, Robert Bosch Venture Capital, UVC Partners, Mey Capital Matrix, KfW, and Btov Partners, as well as new investors GreyBird Ventures, Occident, and Wachtumsfonds Bayern.

GNA has developed a PCR technology called pulsed control amplification (PCA) that rapidly regulates temperature with so-called microcyclers diffused in the master mix solution. It can be used to amplify nucleic acids directly from samples such as whole blood, sputum, and nasal swabs without additional sample preparation. In 2017, it launched its Pharos V8 real-time PCR platform for research use in Europe.

The company said it will use the proceeds of the financing round to continue development of PCA and to obtain CE-IVD marking for a point-of-care diagnostics platform. GNA said it intends to launch the platform in the US once it has been rolled out in Europe.

"This Series C funding will help us execute our regulatory strategy and bring PCA to the clinic," GNA Cofounder and Managing Director Federico Buersgens said in a statement.

Earlier this year, GNA partnered with Boehringer Ingelheim to develop portable emergency veterinary diagnostics, including a test for African swine fever.