Switzerland-based company Abionic has raised CHF20m ($21m) in a new round of Series C financing to extend its portfolio of point-of-care IVD tests for critical care and emergency medicine.

Led by Symphony International chairman Pierangelo Bottinelli, the round saw the participation of two private hospitals chairman Philippe Glatz, Nestlé former CEO and chairman Peter Brabeck-Letmathe, and Yandex co-founder and CEO Arkady Volozh.

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Dumas Construction owners Jean-Bernard and Nelson Dumas, as well as Investiere and Zürcher Kantonal bank, have also participated in the financing round.

“The company is set to launch a multinational sepsis impact study of its Pancreatic Stone Protein (PSP) test for sepsis risk assessment and management next month.”

Abionic CEO Dr Nicolas Durand said: “This financing will enable us to demonstrate the outstanding clinical value of our life-saving five-minute sepsis test in the hospital intensive care setting.”

In addition, the company is set to launch a multinational sepsis impact study of its Pancreatic Stone Protein (PSP) test for sepsis risk assessment and management next month.

The PSP test diagnosis tool is capable of providing results showing an indication of sepsis within five minutes.

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As part of the proposed sepsis impact study, Abionic will analyse the efficacy of the PSP test to help clinicians to identify sepsis earlier and better manage patients at risk of sepsis and septic shock in over 300 patients in 14 ICU sites in Switzerland, Italy, France and the UK.

According to Abionic, the PSP test has the potential to be used in emergency departments for risk stratification and help in the decision to start antibiotic treatment.

Earlier, the company developed and commercialised abioSCOPE, a diagnostic platform used in clinical laboratories and at the point-of-care to improve medical diagnosis.