NEW YORK (360Dx) – Gradientech announced today it has completed a $4.6 million rights issue. The Uppsala, Sweden-based firm will use the funds for further development and early market introduction of its QuickMIC diagnostic system for ultra-rapid antibiotic susceptibility testing in cases of suspected sepsis.
The QuickMIC system generates phenotypic AST results in two hours using microfluidic technology for real-time monitoring of bacterial growth and behavior and quantification of micro-colonies within antibiotic gradients, according to the firm's website.
"Our system is significantly faster than existing laboratory techniques for antibiotic resistance testing of samples from sepsis patients," said CEO Sara Thorslund in a statement. "This is critically important for the sepsis patient, and also advantageous for the healthcare economy since the length of stay in hospital can be reduced." The firm anticipates the QuickMIC system may also reduce improper use of antibiotics, which could help combat rising levels of antibiotic resistance.
The firm noted that existing owners as well as new parties have subscribed, including "people with very relevant business backgrounds and important networks," which Thorslund said will benefit the company's development going forward.