Arctic Diagnostics Ltd, a Turku, Finland-based manufacturer of a multianalyte point-of-care diagnostic system for respiratory tract infections, completed a € 2.7m funding.
The round was led by Lifeline Ventures, participation from existing investors Biothom, Veraventure and private investors.
The company intends to use the funding to expand its mariPOC® system, which diagnoses nine common viruses and bacteria that are clinically important in respiratory tract infections – such as influenza A/B, RS-virus and parainfluenza 1/2/3 viruses – in a single swab test at point-of-care.
Based on the proprietary ArcDia™ TPX detection technology (Nature Biotech 2000:18). mariPOC® was launched to the European market in late 2010.
Led by CEO Dr Aleksi Soini, Arctic plans to develop additional point-of-care tests based on its proprietary ArcDia™ TPX detection technology. Earlier this year, the company announced distribution agreement with Laboratories Leti S.L.U. in Spain, and is currently actively discussing with distributors in Europe and Asia.