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Mobidiag Concludes €4M Funding Round

NEW YORK (GenomeWeb) – Finnish molecular diagnostics firm Mobidiag announced today that it has raised €4.0 million ($4.7 million) in a funding round.

Completed in less than three weeks, the funding round was led by Finnish investment service company Springvest Oy, and supported by more than 200 investors.

The new funding will help Mobidiag scale up the production of its Novodiag instruments and disposable cartridges, in addition to strengthening its global sales and marketing activities.

Mobidiag merged with Finnish firm Amplidiag and French company Genewave in 2013 to form a new entity focused on developing molecular diagnostics for infectious diseases.

"The path from the tri-party merger in 2013 to this point has been lengthy and full of challenges which we have all, one by one, successfully tackled," Mobidiag CEO Tuomas Tenkanen said in a statement.

In April, Mobidiag received CE marking for its Amplidiag CarbaR+MCR test and the Novidiag Bacterial GE+ test.