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Boon for IVD Market Seen in Brisk Financing Activity
Date:6/30/2017

ROCKVILLE, Md., June 30, 2017 /PRNewswire/ -- In vitro diagnostics market firm Kalorama Information has notes that since the start of May, at least ten diagnostic companies have successfully completed financings.  The types of financings include private investments, public offerings and a loan facility.  The size of these financings ranged from approximately $3.3 million to almost $80 million.  Kalorama Information provides a monthly IVD Market Trends Report to customers of its Diagnostics Knowledge Center.

"Diagnostics deals are not large by nature but there has been a good amount of them," said Bruce Carlson, publisher of the New York City-based firm.  "They include companies developing and marketing in vitro diagnostic tests (kits), and also companies with laboratory developed tests (LDTs) that are offering testing services."

Disease areas include oncology, infectious diseases, genetic diseases, Alzheimer's disease, pharmacogenomics, and others.

Some financing includes the following:

  • Accelerate Diagnostics:  May 2017 announcement that the company had closed a previously announced underwritten public offering of common stock.  The offering had been upsized, and gross proceeds are approximately $79.3 million (before underwriting commissions and discounts, and before expenses).  Accelerate Diagnostics is an in vitro diagnostics company that is focused on antibiotic resistance and healthcare associated infections.

  • Akonni Biosystems:  May 2017 announcement that the company had raised $4 million in bridge financing.  Akonni Biosystems is a molecular diagnostics company.  At the time of the financing, the company reported that it is preparing an FDA submission for a clinical IVD pharmacogenomics test.

  • Arivale:  In June 2017, Arivale raised $13.6 million.  This is the first close of a planned $30 million investment round.  Arivale, which was co-founded by Leroy Hood and Clayton Lewis, is focused on wellness and personalized health management.  This includes a genetic analysis and other diagnostic tests.

  • Centogene:  June 2017 announcement that the company had raised €25 million in a Series A financing.  Centogene specializes in genetic testing of rare diseases.  The company plans to expand its services in genetic testing, pharmaceutical collaborations, and big-data solutions, and also to increase its presence in the United States and China.

  • Cytox:  June 2017 announcement that the company raised £2.6 million in new financing.  Cytox plans to use these funds to launch a predictive testing service for Alzheimer's disease.

  • GenMark Diagnostics:  June 2017 announcement that the company had increased the size of a previously announced public offering.  Gross proceeds are expected to be about $75 million.  GenMark markets automated multiplex molecular diagnostic platforms.

  • Interpace Diagnostics:  In June 2017, Interpace Diagnostics closed a public offering, raising net proceeds of $12.2 million.  Interpace Diagnostics offers molecular tests to help risk stratify thyroid and pancreatic cancer through the company's CLIA laboratories.

  • Novacyte Group:  June 2017 announcement that the company completed a €3 million private financing.  Novacyte Group offers tests and (through Lab 21) testing services, specializing in cancer and infectious diseases.

  • Stat-Dx:  At the beginning of June 2017, it was announced that Stat-Dx had secured a €20 million loan facility from the European Investment Bank.  The company is developing molecular diagnostic tests for pathogens.

  • Theradiag:  May 2017 announcement that the company had raised more than €4 million after issuing shares to "a specific category of persons."  The announcement reported that the funds would "enable Theradiag to facilitate and step up its international development and the marketing of its auto-immunity, allergy and theranostics products."

Combined, these ten companies have raised over $240 million since early May 2017.

Kalorama Information's Diagnostic Knowledge Center is a private content offering the firm makes to select clients to access its entire library of reports.   Information about Knowledge Center is available at: https://www.kaloramainformation.com/Content/Knowledge-Center-Information.

About Kalorama Information

Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.

We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog on our company website.  

Please link any media or news references to our reports or data to http://www.kaloramainformation.com/.

Press Contact:
Bruce Carlson
212 807 2262     
bcarlson@marketresearch.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/boon-for-ivd-market-seen-in-brisk-financing-activity-300482498.html


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