Spain-based STAT-Diagnostica has completed financing worth $17m to finalise the development of its Near Patient Testing diagnostic systems, and clinical validation of its first products.
Near Patient Testing systems being developed by the company, including a novel in-vitro diagnostic system, are claimed to simplify the process and provide results in less than 30 minutes for the diagnosis of some medical conditions.
The new Series B financing round is believed to support the company's preparation for European market launch scheduled for 2015.
STAT-Diagnostica CEO and co-founder Jordi Carrera said; "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 decentralised diagnostics market."
Besides offering multi-analyte and multi-sample capabilities, STAT-Diagnostica's platform is said to enhance clinical decision making by medical practitioners and deliver improved patient management, benefiting the healthcare system with direct and indirect savings.
On of financing, the company proposes to direct all the first clinical applications at infectious disease detection, antibiotic resistance determination and detection of biomarkers in critically ill patients.
A new investor, Kurma Life Sciences Partners, has led the financing round, which involved participation from other new investors, including Idinvest; Boehringer Ingelheim Venture Fund and Caixa Capital Risc; alongside existing investors Ysios Capital and Axis.