Diagnostics startups Vivia, Molecular Detection raise millions
Molecular diagnostics startups Vivia Biotech in Spain and U.S.-based Molecular Detection have nailed down new funding to advance clinical trials and ongoing product development.
Vivia, which is based in Madrid, secured 7.2 million euros ($9.4 million) in a second round of financing fueled by a government grant and a separate equity investment from Bioanalítica Inversiones SL. The company is developing and planning to commercialize a personalized medicine diagnostic for hematologic cancers. Funding will also help fuel development of two drug candidates for non-Hodgkin lymphoma and diabetes.
Meanwhile, Molecular Detection in Wayne, PA, raised $1.9 million in what it calls Series B recapitalization financing. The money will help advance its diagnostic for MRSA, which is CE marked and available for use in parts of Europe, Australia and Israel. The Detect-Ready MRSA panel is in late-stage clinical testing in the U.S.
Molecular diagnostics are becoming increasingly important to investors seeking new technology, Big Pharma and other life sciences companies alike. For example, GE Healthcare ($GE) has invested considerable amounts of capital toward developing molecular diagnostics in various indications. Others, like Roche ($RHHBY), want to invest in the space through acquisitions. Roche is in an ongoing bid for gene sequencer/diagnostics company Illumina ($ILMN).
(Photo courtesy of Vivia Biotech)