The Almeda, California immunodiagnostics developer had been developing immunoassay technologies for 16 years, with ties to many giants in the industry.
The four-year loan will be used to develop molecular diagnostic assays for the firm's two test systems, Amplidiag and Novodiag.
GenMark Diagnostics received clearance for a third BCID panel that the firm said paves the way for a customizable approach to sepsis MDx.
Cincinnati, Ohio-based Meridian will acquire Quebec City-based GenePOC for $120 million, and hopes to quickly convert customers to a PCR-based instrument.
Since moving to rapid molecular testing, the lab has doubled its billable test volume, largely through increasing clients for its outreach lab services.
Worcester Polytechnic Institute researchers are developing an inexpensive handheld platform that could provide C. difficile test results in minutes.
Researchers hope that understanding the etiology of inappropriate testing will help them design a better computerized support tool.
The firm saw strong growth in respiratory illness assays and lead testing, which was offset by a decline in C. difficile testing.
Palmetto GBA's decision that large syndromic MDx panels may not always be necessary prompted GenePOC's decision to further target smaller panels.
The test, which runs on the firm's Revogene molecular diagnostics instrument, has now been launched in Canada.