The investment was led by former Morrison & Co CEO Marko Bogoievski and K One W One (K1W1).
The funding round also saw participation from 20 other investors. This brought the overall capital raised by Pictor to $17m.
This financing will be utilised for the development and marketing of the PictArray SARS-CoV2 antibody test, as well as other Pictor’s in-vitro diagnostics.
PictArray SARS-CoV-2 test is designed for detecting whether a patient has antibodies from a previous SARS-CoV-2 infection (spike protein (SP) and nucleocapsid protein (NP) antibodies) or from vaccination alone (SP antibodies only).
It enables customised Covid-19 assessments and will also indicate whether patients require a Covid-19 booster.
The PictArray test will also indicate whether at-risk patients, who have been vaccinated or got infected, failed to produce a detectable antibody response.
Pictor chief medical officer Tadd Lazarus said: “The PictArray SARS-CoV-2 Antibody Test is a high-performance, all-in-one, NP/SP COVID-19 antibody test with serological differentiation.
“This is the only known test that separately measures antibodies from vaccines and SARS-CoV-2 infection in one test. The separate detection of SP and NP enables more precise clinical intervention.”
The company stated that the antigen test is an advancement with critical applications, including vaccine development, due to its capacity to distinguish between natural and vaccination-based antibodies.
Pictor CEO Howard Moore said: “We now have the capital for further market development and launches within the United States, India, Australia, New Zealand, and the EU.”