Molecular diagnostics company Mobidiag has been granted €1.5 million additional funding from Business Finland for the continued development of a rapid diagnostic test for sepsis using its Novodiag platform.
This additional funding has been secured as a result of progress in the development of the assay and the completion of key milestones by Mobidiag since the award of the first grant in May 2018. The new funding brings the total loan to €3 million.
Mobidiag is using its Novodiag platform to develop an assay to detect sepsis within two hours, directly from a patient’s blood sample. Mobidiag’s previous diagnostic test for sepsis, Prove-it, was able to detect 80 targets simultaneously from blood cultures.
Tuomas Tenkanen, CEO of Mobidiag, said: “There are currently no relevant tests available that can rapidly diagnose sepsis directly from patient blood samples and there is an urgent need for efficient, accurate and most importantly rapid diagnostic tests given the speed at which sepsis can progress in patients. We are delighted with the continued support from Business Finland and this additional funding will help us achieve our goal of developing a truly revolutionary assay that has the potential to transform sepsis diagnosis for patients in the future.”
Sepsis, a potentially life-threatening condition caused by the body's response to an infection is usually treated with antibiotics and large amounts of intravenous fluids. Early detection of sepsis is critical in improving patients’ chances of survival. Sepsis represents a major global health concern affecting more than 30 million people worldwide every year and is responsible for up to 6 million deaths every year.
Raimo Pakkanen, chief advisor at Business Finland, said: “Business Finland’s strategic goal is to support those innovative Finnish companies that are systematically seeking for international growth. After seeing Mobidiag successfully reaching the targets set for the first phase, we are delighted to confirm the funding also for the second phase of the project and this way support the progress for the solution for early detection of sepsis.”
