Long Beach-based investment firm Pacific6 Enterprises, and South Pasadena-based JM Molina Investments, today announced a joint investment to acquire a 33% interest in Detact Diagnostics, a Netherlands-based life-science company.

Pacific6 is an investment partnership founded, in part, by John Molina, the former CFO of Molina Healthcare.  His brother, J. Mario Molina, M.D., former CEO of Molina Healthcare, is the principal behind JM Molina Investments.

Detact Diagnostics, founded in 2014 by former trauma surgeon Joost Gazendam, specializes in the development of bacterial and viral detection technologies. The company’s innovative, patented technique can accurately and reliably detect the presence of a bacteria or virus within minutes. This proprietary detection platform – uniquely suited to developing quick, affordable, point of care tests – serves as the foundation for the company’s current development of a rapid Covid-19 screening test, CoviTact©.

The novel CoviTact© saliva screening test is low-cost and requires no laboratory processing nor trained clinical staff to administer, and yields results in under two minutes – making it ideal for strategic deployment at venues worldwide.

“Joost and his team have been laser-focused on creating an innovative, disruptive diagnostic technology” said John Molina, Founding Partner at Pacific6. “This investment will extend our company’s international reach and help accelerate the development of affordable, reliable testing technologies that will dramatically change the rapid-test landscape.”

“We couldn’t be more enthusiastic to partner with the Molinas,” said Dr. Joost Gazendam, CEO of Detact Diagnostics. “They share our vision for healthy living and we’re excited to have a partner that not only provides funding, but also brings a vast amount of experience as a leader in the healthcare industry.”

Source: Company Press Release