Abionic has raised CHF20m ($21m) series C financing to expand its portfolio of point-of-care IVD tests for critical care and emergency medicine.

The financing has been raised under the round led by Symphony International Holdings chairman Pierangelo Bottinelli.

The participants included two private hospitals owner Philippe Glatz, Nestlé former CEO and chairman Peter Brabeck-Letmathe, Yandex co-founder and CEO Arkady Volozh, Dumas Construction owners Jean-Bernard and Nelson Dumas, Investiere and Zürcher Kantonalbank.

The funding will allow Abionic to start a multinational sepsis impact study of its Pancreatic Stone Protein (PSP) test for sepsis risk assessment and management,

Abionic’s PSP is claimed to be the only device across the world that can provide results showing an indication of sepsis within five minutes.

Expected to begin in April this year, the international sepsis impact trial will assess the efficacy of the PSP test to support clinicians to detect sepsis earlier and better manage patients at risk of sepsis and septic shock in over 300 patients in 14 ICU sites in Switzerland, Italy, France and the UK.

Abionic said it believes that the PSP test could be used in emergency departments for risk stratification, helping to quickly take decision to begin antibiotic treatment.

The trial principal investigator professor and Dr Bruno François said: “Abionic’s PSP test has the potential to provide earlier detection of septic patients than with currently available technologies.”

Abionic CEO Dr Nicolas Durand said: “This financing will enable us to demonstrate the outstanding clinical value of our life-saving 5-minute sepsis test in the hospital intensive care setting.

“We would like to welcome all of our new and current investors and thank them for sharing our entrepreneurial vision. They help us shape the future of diagnostics.”

Abionic has developed and commercialized diagnostic platform, abioSCOPE, which provides healthcare professionals with tools to conduct tests for allergies, iron deficiency diseases and sepsis.

Image: Abionic will use funding to expand its portfolio of point-of-care IVD tests. Photo: courtesy of panuruangjan / FreeDigitalPhotos.net.