Daktari Diagnostics Inc., a Cambridge, Mass.-based developer of point-of-care diagnostic systems for global health applications, has raised $10m in financing.
The round was led by Merck Global Health Innovation Fund, with participation from current investors Norwich Ventures and the Partners Innovation Fund.
The company intends to use the funds to complete development and bring to market its initial products, intended for use in monitoring HIV patients worldwide, and to expand the point- of-care product development pipeline.
Founded in 2008 and led by CEO Bill Rodriguez, M.D., Daktari Diagnostics develops simple, accurate, and affordable diagnostic tests that address challenges in global health. Its diagnostic system is designed to analyze small volumes of blood or other fluids, for use in any type of health care setting. The technology was initially developed at Massachusetts General Hospital in Boston.
The company is currently hiring (http://www.daktaridx.com/careers/)