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The firm said it will use the financing to develop and commercialize its immune response gene-expression diagnostic tests.

The company said that it sold 57 T2Dx instruments in 2020, including 47 in the US, more than doubling its US installed base.

The firm said it is drawing up plans for its business in a post-pandemic world, planning the introduction of new testing panels and enhancing its respiratory panel.

The firm, in its development work, has multiplexed up to 57 different analytes, obtaining quantitative results using one cartridge and one patient sample, its CEO said.

Revenues were down year-over-year because of an international capital deal in the fourth quarter of 2019 that did not repeat in the current year.

With new platforms in its plans, Accelerate will target hospitals that have a bacterial identification method but want to add rapid susceptibility testing.

The funding supports the development of a four-hour electrochemical antimicrobial sensitivity test that can be used with commercially available panels.

The firm also announced the amendment of the terms of a loan with CRG, a global healthcare investor.

Molzym said a new analytic platform, called AutoSepT, would enable fast pathogen identification directly from specimens in less than five hours.

The iQ Group Global is integrating the Wyss Institute's technology with its own organic thin-film biosensor platform for SARS-CoV-2 serology testing.