The Series B financing round led by new and existing investors, including Heska, the recently announced veterinary partner of MBio Diagnostics.
MBio Diagnostics will use the funding to support the refinement of its platform and enhance the manufacturing activities, enabling to better serve its commercialization partners.
MBio Array system is a portable and easy-to-use multiplex reader, which offers lab-quality results in one to two minutes through using low-cost and disposable load-and-go cartridges.
The system uses patented LightDeck planar waveguide technology, which eliminates the need for sample preparation and helps to detect all crucial analytes such as proteins, cells, nucleic acids, and small molecules.
The company’s platform can be used in various test modalities ranging from protein arrays and nucleic acid detection to cellular analysis.
LightDeck technology can be used in applications, including medical and veterinary diagnostics, food safety testing and environmental monitoring.
MBio Diagnostics CEO Chris Myatt said: “MBio is rapidly becoming the platform of choice for test applications in all market segments from medical and veterinary to food and environmental.
“This funding enables growth driven by our veterinary partner Heska, our recently launched water quality tests, and a portfolio of clinical testing partners.”
MBio noted that it intends to serve as a platform of choice for major providers and users of clinical and analytical testing services in all market segments, including medical, veterinary, environmental, food, agricultural and military.
The company operates advanced facility in Boulder, which features biosafety laboratories for biological assay development, method development and validation.
The facility is also comprised of 3750ft² cleanroom for pilot-scale cartridge production and cartridge manufacturing process development.
Heska is engaged in the manufacturing, developing and marketing of advanced veterinary diagnostic and specialty healthcare products.
The firm’s business is composed of core companion animal health (CCA) segment and other vaccines, pharmaceuticals and products (OVP) segment.
