The company is targeting hospital labs interested in a more streamlined mass spec solution as the clinical mass spec market begins to heat up.
The firm's president of global diagnostics marketing said that recent revenue growth comes as a result of multiple initiatives implemented in recent years.
The firm, which raised $7.1 million from its IPO last week, is looking to move into geographies where a need for infectious disease tests are already well established, its CEO said.
NGeneBio is moving ahead with plans to have the test cleared for diagnostic use in Korea, while envisioning a 2019 submission to the US FDA.
The company launched the MassArray System with Chip Prep Module in Europe for general IVD use, targeting hospitals and laboratories.
An Alberta-based research group plans to launch a blood test that could improve the specificity of prostate cancer diagnosis and reduce the number of biopsies.
The firm will encounter stiff competition, particularly from BioMérieux and Luminex, but there are untapped opportunities for adoption, according to industry analysts.
Market growth is providing opportunities for emerging diagnostic companies and a range of options for clinicians, included PCR and protein tests.
The firm has already received CE marking for its nanofluidic point-of-care assay, which could provide rapid identification of sepsis in patients.
The test could help stem the infection's advance in regions where the kissing bug is prevalent, and enable screening in other affected countries.