New funding will see new point of care diagnostic platform technology through to regulatory approval and commercial partnerships
Dublin, 9th November, 2011: Biosensia, a point of care diagnostics company, has secured Euro 1.2 million investment in its most recent funding round, as part of the company’s plans to advance its regulatory and commercial strategy for its platform in Europe and the US.
The funding round was led by ACT Venture Capital, through its AIB Start-up Accelerator Fund, and included existing investors Seroba BioVentures and Atlantic Bridge.
The funding will be used to secure CE mark and FDA regulatory approval for Biosensia’s products in Europe and the US and advance its commercial partnership strategy. There is a significant unmet need for more convenient, accurate and affordable point of care solutions, and Biosensia is poised to become a major player in the development of next-generation, point of care diagnostic products.
Biosensia’s platform, RapiPlex, is a novel, user-friendly, cost effective, multiplexing point of care in vitro diagnostics platform that gives access to a broad range of diagnostic applications including acute phase diagnostics, prognostic diagnostic panels and companion diagnostics at the point of care. RapiPlex enables the transition of complex immunoassays from the central laboratory to the point of care across a wide variety of samples types.
Diarmuid Flavin, CEO of Biosensia, said: “This is an exciting time in Biosensia. Our commercialization plans and technology are progressing rapidly. With this financing, the company can further capitalize on its revolutionary RapiPlex technology. We see a significant market demand across a range of diagnostic applications for our RapiPlex platform.”
“We are delighted to have ACT Venture Capital as a new investor in Biosensia as well as the continued support of Seroba and Atlantic Bridge. We have a great product and this investment will allow us to complete regulatory requirements in the US and Europe, and seek partners to expand into new market opportunities.”
John O’Sullivan, Director at ACT Venture Capital, added: “The RapiPlex platform has huge potential across a broad range of applications, making this a great investment opportunity for ACT. We look forward to working with the Biosensia team as they progress to commercialization.”