Handheld molecular diagnostics device developer QuantuMDx Group this week announced it has closed an $8.42M funding round via philanthropist private investors and the University of Newcastle upon Tyne, following the recent publicity success of its Indiegogo crowdfunding campaign.
The funds will be used to further optimize and trial Q-POC, QuantuMDx’s handheld DNA sequencer & genotyping device, in addition to extending the company’s assay pipeline, expanding its research teams and appointing an Advisory Board.
“2014 will be an immensely exciting year for QuantuMDx as we demonstrate, in real-time, our ability to undertake 15 minute sample-to-result analysis for complex molecular diagnostics,” said Elaine Warburton, CEO and Co-Founder. “Later this year when we formally unveil our prototype, we anticipate much interest from Life Science and Pharma companies seeking a low cost, high quality POC platform for diagnostics and to support drug development.”
“Most of the basic research was completed last year and we moved into an engineering phase to integrate these technologies and chemistries at the beginning of this year. We are now moving into the testing phase of our alpha prototype,” says Jonathan O’Halloran, CSO, inventor and Co-Founder. “Excitingly, we envisage these devices to be readily distributed globally due to their low cost, fast turn-around times and referral standard testing. With networked devices all over the world we will have a platform to monitor emerging pathogens and drug resistance hotspots in real-time; a concept we like to call the Internet of Life”.
Field trials will commence early 2015 for Q-POC’s first assays in malaria speciation and drug resistance, in partnership with NGOs and hospitals in several African countries, and a companion diagnostic for warfarin within the UK’s National Health Service, in anticipation of a commercial launch later in 2015.
