Therapy Areas: AIDS & HIV
MBio Diagnostics Raises Additional USD 6m in Series B Funding
23 August 2018 - - US-based clinical diagnostics and sample testing company MBio Diagnostics, Inc. has raised an additional USD 6m in series B financing led by new and existing investors, including MBio's recently announced strategic veterinary partner, Heska, the company said.

The funding supports the refinement of the MBio platform and improvements in manufacturing as the company scales-up to support its commercialization partners.

The MBio platform brings remarkable simplicity of use and speed to a broad range of test modalities, from protein arrays and nucleic acid detection to cellular analysis.

This platform's simplicity is enabled by the MBio LightDeck technology, which is based on planar waveguides and fluorescent detection, and eliminates the need for sample prep.

LightDeck technology has applications in medical and veterinary diagnostics, food safety testing, and environmental monitoring. MBio's approach is differentiated from other rapid test methods: it is low cost (injection-molded plastic consumables), highly reproducible, and readily scalable to large volume manufacturing.

The MBio Array System is a portable, easy-to-use multiplex reader that provides lab-quality results in 1 to 20 minutes employing low-cost, disposable load-and-go cartridges.

The System utilizes patented LightDeck planar waveguide technology that eliminates sample prep and can be designed to detect all key analytes including: proteins, cells, nucleic acids, and small molecules.

Heska Corp. (NASDAQ: HSKA) manufactures, develops and sells advanced veterinary diagnostic and specialty healthcare products. Heska's business is composed of Core Companion Animal Health segment, which represents approximately 80% of revenues, and Other Vaccines, Pharmaceuticals and Products segment.

CCA segment includes, primarily for canine and feline use, Point of Care Laboratory testing instruments and consumables under a unique multi-year Reset Subscription model, digital imaging products, software and services, local and cloud-based data services, allergy testing and immunotherapy, and single use offerings such as in-clinic diagnostic tests and heartworm preventive products.

OVP segment includes, primarily for herd animal health, private label vaccine and pharmaceutical production under third party agreements and channels. 

MBio is leading a new era in rapid, on-the-spot clinical diagnostics and sample testing. Our portable MBio multiplex analyzer and disposable cartridge enable low-cost, rapid answers in 1 to 20 minutes.

MBio aims to be the platform of choice for providers and users of clinical and analytical testing services in all market segments including: medical, veterinary, environmental, food, agricultural and military.