Medical Diagnostics Company STAT-Diagnostica Secures $22.1 Million in Financing
News May 07, 2013
Led by new investor Kurma Life Sciences Partners, the round also drew participation from new investors Idinvest; Boehringer Ingelheim Venture Fund; and, Caixa Capital Risc, the venture capital division of “la Caixa;” as well as existing investors Ysios Capital and Axis.
Founded in 2010 and based in the Barcelona Science Park, STAT-Diagnostica develops Near Patient Testing systems that simplify and reduce time to results for the diagnosis of certain medical conditions. The company’s novel in vitro diagnostic system is a versatile, easy-to-use platform that consolidates molecular and immunoassay techniques in a single device. The first clinical applications will be directed at infectious disease detection, antibiotic resistance determination and detection of biomarkers in critically ill patients.
"The Series B financing is a significant milestone that will support our preparation for a European market launch in 2015,” said Jordi Carrera, CEO and co-founder of STAT-Diagnostica. “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."
STAT-Diagnostica’s platform not only offers multi-analyte and multi-sample capabilities, but it also reduces current diagnosis times (which can take up to several days) by providing results in less than 30 minutes. The system’s rapid performance will enable improved clinical decision making by medical practitioners, delivering better patient management with direct and indirect savings to the healthcare system.
"STAT-Diagnostica’s technological potential is evidenced by both its novel diagnostic platform and the future diagnostic kits it will enable. In addition, we have found the company to be led by a team with exceptional competence, quality and professionalism,” said Rémi Droller, managing partner, Kurma Life Sciences Partners. “We have led this financing round with great enthusiasm, and we share with all the investors the vision of transforming STAT-Diagnostica into a reference company in the field of Near Patient Testing diagnostics."
As part of the Series B financing, Ysios Capital significantly increased its investment in STAT-Diagnostica to become the company’s largest shareholder. Raúl Martín-Ruiz, investment director at Ysios Capital, commented on the firm’s increased stake in the company. "When we invested in STAT-Diagnostica in June 2011, the company was almost just an idea. Within two years, STAT-Diagnostica has achieved pre-commercial validation of the technology, which has reduced the technological risks significantly, and has successfully raised the interest of specialized international investors. We are very satisfied to have played a relevant role building up the investors syndicate."
Researchers have created a portable and fast-acting test that can distinguish Ebola infections from other fever-causing infectious diseases such as Lassa fever and malaria in around 30 minutes. Although further testing is required, this could be useful during febrile disease outbreaks.READ MORE