It anticipates using the funds to complete the development of its first set of diagnostic products, and for a set of clinical studies to obtain regulatory clearance.
The new assay simultaneously detects four viral targets in donated blood plasma in a single sample and can add value to the biologics development space.
Owen Mumford has acquired the exclusive rights to Atomo's CE-marked HIV tests and will bring them to market in Europe under the Simplitude brand.
At least one HIV self-test from a competitor could reach the global market this year. In addition, the company is in the midst of a strategic review.
The firm's product revenues were up 19 percent year over year, while license and royalty revenues, as well as R&D, milestone, and grant revenues increased sharply.
Lifted by a strong flu season, Cobas Liat PCR placements reached 1,500 systems in the US. Globally, year-over-year sales for the point-of-care system grew 262 percent.
The company narrowed its net loss for Q4 2017 to $2.0 million, or $.16 per share, compared to a net loss of $2.6 million, or $.21 per share, in Q4 2016.
The researchers said that a study to validate their concept showed that the platform has potential to detect cancer and infectious disease biomarkers in human blood.
The researchers built a combination nucleic acid-antibody test for the disease using an approach they said could be generally useful for rapid test development.
The firm said it is close to completing development of a platform that aims to meet a need for cost-effective monitoring in countries with a high disease burden.