Fresh capital for Spindiag
With the help of investors both new and old, the Freiburg-based start-up is taking the next big step in the introduction of its innovative technology for the rapid detection of multi-resistant germs.
Spindiag today announced that it has completed its first Series A expansion financing. Based on its proprietary microfluidic technology researched at its parent institute Hahn-Schickard, Spindiag is developing a sustainable platform for infection diagnostics and, as the first product, a rapid test for MRSA (methicillin-resistant Staphylococcus aureus). The additional 4 million euros should enable CE-IVD approval for the EU market and the industrialization of production for the market entry planned for 2020.
"The relevance of the topic and the perfect fit of Spindiag’s solution allowed us to quickly gain more investors: the WBG Pflegeheime, an administrator of nursing homes that is well-connected in the healthcare sector, and another new investor are two excellent partners that are now on board," comments Spindiag’s CEO and co-founder Daniel Mark.
Since the completion of the first part of Series A, the injection moulding production of the Spindiag disk test cartridges, pilot tests with the Spindiag player processing device and the Spindiag MRSA disk have been successfully completed in several clinics and a further comprehensive usability evaluation has been carried out with positive results.
The BMBF has been supporting the development of the SpinDiag system since 2007 with various funding programs. Participation in the Biotechnology Innovation Academy in November 2013 gave Spindiag GmbH the decisive impetus for its final business orientation.