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Curetis

The funds will support Curetis' R&D efforts, which include partnering its Unyvero A30 RQ mid-plex diagnostics system for verification and validation testing.

The company also reported a decline in its net loss for the quarter on lower operating expenses due to a recent reorganization that included layoffs.

For 2019, the firm's total revenues from commercial operations, licensing, and collaborations are expected to grow to more than €3 million.

Under the agreement, Menarini will immediately begin distributing Curetis' PCR-based system in Germany, France, Benelux, the UK, and Switzerland.

The submission by Curetis' distribution partner Beijing Clear Biotech used data previously collected for regulatory approvals in the US and Europe.

The new regulatory approvals add to previous approvals in Singapore, expanding the firm's reach in the Association of Southeast Asian Nations region.

New funding will support assay development and lab space to offer test services, and ultimately a test kit using the firm's resistance database.

Excluding IPOs, the funding environment for private venture-backed financing Dx deals in the US and Europe was remarkably similar in 2018 to 2017, according to Silicon Valley Bank.

The company will rely more on distribution partners in Europe for its Unyvero product line while continuing highly targeted commercialization efforts in the US.

The three-year extension increases the minimum purchase commitments for the Unyvero system, resulting in an increase in potential revenues of €30 million to Curetis.

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