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Novus Diagnostics Nabs €4.6M in Equity Financing

NEW YORK – Dublin-based firm Novus Diagnostics said Wednesday that it has secured €4.6 million ($4.7 million) in an equity financing round to support the development of its point-of-care testing platform.

The firm said that the funding round was led by BVP Investments, Trinity Biotech, and Irrus Investments with participation from the EIC Fund, Grimpeur Holdings, Dublin City University, and Enterprise Ireland. Novus said that the funding will be used toward the continued development of its rapid test to aid the diagnosis and treatment of sepsis.

In October, Trinity said it had acquired a 12.5 percent stake in Novus.

Novus has been developing its flagship SepTec point-of-care sepsis test for the diagnosis and classification of bloodstream infections, with results in 15 minutes. The company said on its website that its testing system employs microfluidics, antibody-imprinted electrochemical sensors, and electrochemical impedance spectroscopy.