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BioFire Diagnostics Gets $25M Investment

NEW YORK (GenomeWeb News) – BioFire Diagnostics today announced that it has received a $25 million investment from Athyrium Opportunities Fund.

The Salt Lake City-based firm, which recently changed its name from Idaho Technology, will use the funds to accelerate commercialization of its FilmArray diagnostic platform and panels that run on the platform. The firm already holds US Food and Drug Administration clearance and the CE IVD Mark for its FilmArray Respiratory Panel, which simultaneously tests 17 viral targets and three bacterial targets in roughly one hour.

BioFire is currently developing panels for blood culture ID, gastrointestinal disorders, and meningitis.

"This investment strengthens our already solid capital position and the company's ability to further penetrate the molecular diagnostics market," BioFire CEO Kirk Ririe said in a statement.