Mobidiag Secures Additional Funding

Mobidiag Ltd., a Finnish molecular diagnostics company, announced today that it has successfully completed a 3,99 million euros funding supported by the Finnish investment service company Kansalaisrahoitus Oy. Adding up to the loan of 15 million euros from the European Investment Bank (EIB), this new funding was completed before closing date by over 300 investors.

Mobidiag provides innovative solutions for in vitro diagnostics of infectious diseases. More reliable and faster diagnostics can ensure patient care and safety by detecting infection type allowing selection of the appropriate treatment with or without antibiotics. Mobidiag has used its expertise in the detection of gastrointestinal infections and multi-drug resistant organisms, also known as superbugs. Product lines currently available are well suited for high-throughput laboratories. Upcoming products are instrument and test cassettes that detect simultaneously panels of bacteria, viruses or parasites. This syndromic approach brings effective DNA technique closer to patients in a user-friendly and economically effective format reducing overall healthcare costs and directing better patient treatment.

Mobidiag now invests strongly to expand its sales and marketing channels in Europe and other parts of the world. “We were very happy with the share issue organised by Kansalaisrahoitus, which was achieved very professionally and fast. This type of financing completes perfectly traditional ones”, says Tuomas Tenkanen, CEO of Mobidiag. “We were privileged to participate in the financing of a very promising and fast growing company that aims to improve healthcare quality and people´s health”, says Toni Lahti, CEO of Kansalaisrahoitus.

This new funding will allow Mobidiag to finalize and scale up its product manufacturing and assay validation, as well as to strengthen its sales and marketing activities.