BioFire Diagnostics Receives $45M Financing from Athyrium Opportunities Fund

BioFire Diagnostics, Inc. (formerly Idaho Technology, Inc.), a Salt Lake City, Utah-based clinical diagnostics company, received a $45m financing from Athyrium Opportunities Fund, a New York-based fund focusing on investment opportunities in the global healthcare sector.

The company intends to use the proceeds to further accelerate the commercialization of its FilmArray molecular diagnostic platform.

Led by Kirk Ririe, Chief Executive Officer, BioFire has already distributed its first panel, FilmArray Respiratory Panel (RP), which simultaneously tests 17 viral targets and three bacterial targets in approximately one hour, to hospitals throughout the U.S. and the E.U.
The company is now progressing its blood culture ID panel through the FDA 510(k) approval process to bring additional panels to market in the coming years.
It currently holds more than 85 patents related to polymerase chain reaction (PCR).
Customers include the Department of Health and Human Services, the Department of Defense, state and local law enforcement, clinical laboratories, and research institutions across a spectrum of fields and industries around the world.



Related News:
01/12/2009: USA, Idaho Technology Receives €3.3M Grant from the Defense Threat Agency (DTRA)

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