Mobidiag Ltd., an Espoo, Finland-based commercial stage molecular diagnostics company addressing the spread of antimicrobial resistance, received the final €4M tranche of a €15M three-year project secured from the European Investment Bank Group (EIB) in July 2016.
The loan was provided as part of “InnovFin – EU Finance for innovators” program, an EIB initiative aimed at providing innovative and high quality companies in Europe with access to finance.
The funding has already enabled Mobidiag to finalize, launch and commercialize its Novodiag® molecular diagnostic system and two assays for detection of gastrointestinal infections (Novodiag® C. difficile and Novodiag® Bacterial GE+). The final tranche will enable the company to continue growing its product portfolio, accelerate the development of further assays for the Novodiag® system and enhance its manufacturing capabilities, as well as continuing to facilitate Mobidiag’s commercial expansion into additional markets.
Led by Tuomas Tenkanen, CEO, Mobidiag is a molecular diagnostics company whose technology makes molecular diagnostics available to address the spread of antimicrobial resistance (AMR) by rapid detection of pathogens and their potential resistance to antibiotics. Through its Amplidiag® and Novodiag® solutions, the company offers a comprehensive range of molecular diagnostic solutions for the detection of infectious diseases to laboratories of all sizes.
Mobidiag is headquartered in Espoo, Finland, with subsidiaries in France, UK and Sweden.