Atlas Genetics Ltd., a Bath, England, UK-based ultra-rapid Point-Of-Care (POC) molecular diagnostics company, closed $35m in Series D financing.
Backers included existing investors Novartis Venture Funds, Consort Medical plc, Johnson & Johnson Innovation – JJDC, Inc., LSP, BB Biotech Ventures, RMI Partners and Technology Venture Partners and new investor Wondfo Biotech, a Chinese in vitro diagnostic company.
The company intends to use the funds to finance the clinical trials and commercial launch of a second test for detection of both Chlamydia and Gonorrhoea, planned for regulatory approvals in the US around the end of 2017, further develop additional diagnostics menu, and to expand cartridge manufacturing capacity at Bespak, its cartridge manufacturing partner.
Led by Dr John Clarkson, Chief Executive Officer, Atlas Genetics develops ultra-rapid POC diagnostic tests for infectious diseases. Its io® system is a novel molecular diagnostic platform for the ultra-rapid diagnosis of a broad range of infectious diseases based on a patent-protected electrochemical sensor technology. An integrated cartridge, which contains all reagents, is designed to receive an unprocessed clinical specimen. Each cartridge can detect up to 24 different genetic targets from a patient sample.
The company also has a commercial office in Boston, MA.