Vivacta raises US$4.5 million to commercialise piezofilm technology
for point-of-care diagnostic tests
18 June 2009
Kent-based diagnostic technology company Vivacta has announced today
that following successful development of its TSH (thyroid function)
test, together with prototype commercial readers, it has closed a $4.5
million financing round that was fully subscribed by existing investors.
Vivacta CEO Neil Butler commented, “The success of this financing
round underpins the support we have from our shareholders and signals
their confidence that our ultrasensitive immunochemistry platform will
reset the benchmark for diagnosis at the point-of-care.
"The clinical evaluation of the system has now commenced and we
anticipate achieving regulatory clearance within 12 months. The
cartridge pilot manufacturing facility has commenced weekly
manufacturing campaigns for internal evaluation. Validation of the
facility and product is planned for later this year”.
Vivacta’s technology was recently presented at the influential Oak
Ridge Conference. Further announcements regarding commercialisation of
the system are anticipated in the coming months.
Vivacta’s current investors include AGF Private Equity, HBM
Bioventures, Spark Ventures and the original sponsor, Viking
Vivacta has developed an immunoassay test that can be delivered at the
point-of-care. The test kit consists of a portable bench-top reader and
a credit-card-sized disposable cartridge to take and analyse a pin-prick
of blood. Based on piezofilm technology it can analyse whole blood for
TSH in just five minutes, allowing, for the first time, testing,
reporting and treatment to be done in the same doctor's appointment.
See MTB Europe article:
Lab-quality point-of-care test for hypothyroidism promises
measurable health benefits
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