Developers of POC STI platforms and assays said that the tests provide convenience, privacy, and quick results in an area of testing in need of these benefits.
The funding will go toward expanding the firm's product line and increasing access to its testing services. MyLab Box has raised $2.1 million in total.
The firm's Lab21 division will assume the commercial rights to enzyme immunoassay microtiter plates, and latex agglutination, fluorescence, and rapid lateral flow tests.
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.
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 firm has completed a US clinical trial for a test that detects antibodies to HIV types 1 and 2 and Treponema pallidum, the causative agent for syphilis.
For the three months ended June 30, the point-of-care infectious disease diagnostics firm posted $4.1 million in total revenues, up from $3.3 million in Q2 2016.
