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QuantuMDx Gets £15M Investment From Vita Spring IVD Fund for Portable PCR Platform Development

NEW YORK QuantuMDx said Monday that it has obtained a £15 million ($20.3 million) equity investment from Vita Spring IVD Fund, a Hong Kong-based venture capital firm, and will use the proceeds to expand the development of its Q-POC PCR platform for the point of need.

Newcastle upon Tyne, UK-based QuantuMDx said it plans to expand the menu of tests for Q-POC — a portable, sample-to-answer platform — by adding a multiplex respiratory panel and tests for sexually transmitted infections, HPV, and other diseases to the SARS-CoV-2 assay that currently runs on the platform.

The company said it has also entered into discussions for a cooperation agreement with Sansure Biotech, a Changsha, China-based in vitro diagnostic firm, that could accelerate the commercial development of the Q-POC system and cassettes in China and other territories in Southeast Asia, as well as enable the point-of-care test developer to optimize manufacturing and broaden its assay portfolio.

Financial and other terms of the proposed agreement were not disclosed.