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NEW YORK ─ QuantuMDx on Wednesday announced that it has raised £11 million ($15.1 million) in its latest financing round to support manufacturing and commercial scale-up of its Q-POC rapid, PCR-based point-of-care diagnostic system which detects SARS-CoV-2.

The Newcastle Upon Tyne, UK-based firm said the financing has been structured as a convertible loan, enabling participation from the Future Fund, a program designed by the UK government and delivered by the British Business Bank.

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