The iC-GN Assay detects target DNA and identifies gram-negative organisms associated with gram-negative bacteremia, and three antibiotic-resistance markers.
The firm's CEO said it is continuing to develop its distributor network to make its tests available in centralized and decentralized settings globally.
The firm said it anticipates using the financing to support working capital requirements, platform development, and pilot manufacturing.
Roche said that the test aids clinicians in accelerating tuberculosis diagnosis and treatment by detecting resistance to the antibiotics rifampicin and isoniazid.
The PCR-based test is designed to detect 47 antibiotic resistance genes in less than three hours from bacterial isolates to help guide treatment decisions.
Industry executives said that clinical needs associated with antimicrobial resistance and sepsis are generating more interest in AST technologies.
VALUE-Dx involves six IVD companies and is being heralded by participants as an opportunity for competitors to work together to improve test adoption.
ArcDia will provide Xinhua its biochemical assay components and R&D services in order to localize the Finnish firm's MariPOC testing platform in China.
CEO Yoel Ezra said the firm plans to deploy a prototype in pilot studies next year, and is eyeing opportunities in the US, Europe, India, and the Middle East.
Value-Dx is being spearheaded by six in vitro diagnostic firms and 20 non-industry partners and will be funded with with €14 million over four years.