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Cavidi Closes $11.5M Financing to Support Launch of HIV Viral Load Platform

NEW YORK (360Dx) – Uppsala, Sweden-based Cavidi said today that it has closed $11.5 million in equity financing with Impilo, an investment firm that focuses on Nordic healthcare companies.

Cavidi said it is close to completing development of Ziva, a fully automated reverse-transcriptase viral load platform that aims to meet a need for cost-effective monitoring in countries with a high disease burden. The firm is developing Ziva as a medium-throughput system to meet the requirements of decentralized labs, such as those in district hospitals.

Cavidi CEO John Reisky de Dubnic said in a statement that the firm has now "largely completed Ziva development and established a distribution agreement with [an undisclosed] top-10 global diagnostic company." He noted that with the financing from Impilo, Cavidi has secured growth equity to support Ziva's launch.

The firm said that it had begun the platform's development with a loan from the European Investment Bank.