Starting to feel like we've been left at the alter
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Posted On: 02/07/2017 10:12:08 PM
Starting to feel like we've been left at the alter due to inaction.
Financing global launch and menu development of Atlas Genetics’ io® molecular testing system
Bath, UK, 23 January, 2017. Atlas Genetics Ltd., the ultra-rapid Point-Of-Care (POC) molecular diagnostics company, today announces completion of its Series D financing, raising $35 million from a syndicate including all Series C Investors and one new investor, Wondfo Biotech.
Development of the Atlas Genetics io® system has been completed with the successful CE marking of the Chlamydia trachomatis (CT) test announced in February 2016. This new Series D equity issue will finance the clinical trials and commercial launch of a second test, for detection of both Chlamydia and Gonorrhoea, planned for regulatory approvals in the US around the end of 2017, as well as further development of additional diagnostics menu. The financing also provides funding to expand cartridge manufacturing capacity at Bespak, Atlas Genetics’ cartridge manufacturing partner.
The io® system is a highly novel molecular diagnostic platform for the ultra-rapid diagnosis of a broad range of infectious diseases. The system offers a sample-to-answer time of under 30 minutes making it possible to carry out infectious disease tests in primary care clinics and physicians’ offices that are as accurate as those carried out in hospital laboratories. It is based on a patent-protected electrochemical sensor technology that combines speed, accuracy and low manufacturing costs. The fully integrated cartridge contains all reagents and is designed to receive an unprocessed clinical specimen. Each cartridge can detect up to 24 different genetic targets from a single patient sample.
Time for BOD to step up to the plate and do their job.
Financing global launch and menu development of Atlas Genetics’ io® molecular testing system
Bath, UK, 23 January, 2017. Atlas Genetics Ltd., the ultra-rapid Point-Of-Care (POC) molecular diagnostics company, today announces completion of its Series D financing, raising $35 million from a syndicate including all Series C Investors and one new investor, Wondfo Biotech.
Development of the Atlas Genetics io® system has been completed with the successful CE marking of the Chlamydia trachomatis (CT) test announced in February 2016. This new Series D equity issue will finance the clinical trials and commercial launch of a second test, for detection of both Chlamydia and Gonorrhoea, planned for regulatory approvals in the US around the end of 2017, as well as further development of additional diagnostics menu. The financing also provides funding to expand cartridge manufacturing capacity at Bespak, Atlas Genetics’ cartridge manufacturing partner.
The io® system is a highly novel molecular diagnostic platform for the ultra-rapid diagnosis of a broad range of infectious diseases. The system offers a sample-to-answer time of under 30 minutes making it possible to carry out infectious disease tests in primary care clinics and physicians’ offices that are as accurate as those carried out in hospital laboratories. It is based on a patent-protected electrochemical sensor technology that combines speed, accuracy and low manufacturing costs. The fully integrated cartridge contains all reagents and is designed to receive an unprocessed clinical specimen. Each cartridge can detect up to 24 different genetic targets from a single patient sample.
Time for BOD to step up to the plate and do their job.
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