The acquisition nets Vela a US manufacturing and R&D site, as well as Great Basin's multiplexing platform and six existing FDA-approved products.
The investment bank previously had a Market Perform rating for the company, and it increased the price target on T2 Bio's stock to $12 from $5 per share.
The French firm will assess the ability of its iDtect metagenomic NGS assay to identify pathogenic bacteria and viruses in febrile neutropenia patients.
The funding will help Mobidiag scale up production of its Novodiag instruments and disposable cartridges, and improve its global sales and marketing activities.
The study found the test could distinguish between a viral and a bacterial infection with 94.3 percent specificity and 93.5 percent sensitivity.
The award will go toward the development of MicrobeDx's technology for detecting the presence of bacteria in clinical urine specimens and to which antibiotics they are susceptible.
The firm offers two clinical assays, and is in discussions with Qiagen about developing its assays for the GeneReader.
The collaborative study includes testing urine samples from patients who have an increased risk for complicated urinary tract infections.
The firm will use the grant to expedite the development of tests to identify more than 25 bacterial pathogens and antibiotic resistance markers in whole blood samples.
The firm's assay is designed to detect the relative abundance of bacteria species in a patient's sample, allowing doctors to improve long-term inpatient care decisions.