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The investment bank said the company's molecular diagnostics have the potential to replace microarrays for cytogenetics analysis.
The company said the test achieved 100 sensitivity and 100 percent specificity in a study of 210 samples that included 44 from COVID-19 patients.
The partners' "COVID-19 task force" will invest in ePlex molecular testing platforms from GenMark Diagnostics to quadruple UCSF's testing capacity.
Genomica, a PharmaMar Group company, has developed kits based on real-time PCR and its CLART low-density microarray technology.
The firm said it took in $33.6 million in product and service revenue in the quarter, a 42 percent increase from $23.6 million in Q4 2018.
The microarray runs on the company's CE marked Mosaiq system for blood grouping and transfusion-transmitted infection screening.
The funding will support up to 90 percent of development costs for the Klaris system, which purportedly performs phenotypic testing in four hours.
The company also reported higher expenses, in part due to R&D around its MosaiQ platform for blood grouping and transfusion-transmitted infection screening.
Simulations suggested prostate cancer screening informed by polygenic risk scores is more cost effective and less prone to overdiagnoses than screening based on age alone.
The multiplexed paper-based assay could rapidly diagnose early-stage Lyme disease more accurately and at a lower cost than existing methods.
The British molecular diagnostics company received a CE-IVD mark for the assay, called BCA-1, in June, and launched the test in October.
A bi-weekly listing of recent local coverage determinations from Medicare Administrative Contractors.
Veracyte has also acquired Nanostring's Prosigna breast cancer and LymphMark lymphoma assays and plans to develop diagnostic tests using the nCounter platform.
The method, dubbed GoPhAST-R, was codeveloped by researcher from the Broad Institute and NanoString, which now hopes to work with a partner to commercialize it.
The company said it intends to use the proceeds of the offering to advance its MosaiQ high-throughput automated testing products, among other things.
The firm reported $14.9 million in revenue, driven by an 80 percent increase in product revenues, beating Wall Street expectations.
The company is preparing to submit new versions of its immunohematology and serological disease screening microarrays to US and European regulators next year.
Recent local coverage determinations from Medicare Administrative Contractors, posted Nov. 1, 2019.
Mobidiag signed agreements for its Amplidiag and Novodiag products with Alab in Poland and the Ukraine; Biogenetix in Romania; and Theranostica in Israel.
The in vitro diagnostic company said it would use the financing to commercialize its antibiotic susceptibility platform called Reveal.