The company said it has faced competitive pressures in its diagnostics business, partially offset by organizational streamlining efforts it initiated last year.
Bluejay said that the collaboration will focus on the study of antigens associated with various pathogens and identifying the most immunoreactive antigen.
Genfit expects to use part of the gross proceeds from the offering to advance the commercial development of a diagnostic test to identify patients with nonalcoholic steatohepatitis.
Group K said that the partners are developing a RT-LAMP system for use at the point of care in resource-limited areas where real-time RT-PCR is not available.
The test detects genomic drug resistance mutations in HIV-1 that can lead to treatment failure and is validated on the firm's automated Sentosa workflow.
Proceeds will be used for the anticipated regulatory submission of its gene panel test for urinary tract infections and drug resistance, among other things.
Based on PCR technology acquired from Hain Diagnostics, the test and platform enable rapid detection of TB, as well as assessment of antibiotic resistance.
The mass spec-based assay can detect viral proteins eight days after the onset of symptoms, compared to four to five days with PCR tests, its developers said.
The partners inked a licensing deal to market and distribute TGen's DeepChek-TB as a compact, portable, and affordable diagnostic model for physician use.
