€17m funding boost for medical device

A medical device company in Barcelona has secured €17m to complete the development of a device that provides diagnostic results in under 30 minutes. 

Based in the Barcelona Science Park, STAT-Diagnostica develops Near Patient Testing systems that are claimed to simplify and reduce time to results for the diagnosis of certain medical conditions.

The company’s in vitro diagnostic system is claimed to be a versatile, easy-to-use platform that consolidates molecular and immunoassay techniques in a single device. It also reduces current diagnosis times, which can take up to several days.

The first clinical applications will be directed at infectious disease detection, antibiotic resistance determination and detection of biomarkers in critically ill patients.

The Series B financing round was led by new investor Kurma Life Sciences Partners, and included participation from new investors Idinvest; Boehringer Ingelheim Venture Fund; and, Caixa Capital Risc, the venture capital division of “la Caixa” as well as existing investors Ysios Capital and Axis.

‘The Series B financing is a significant milestone that will support our preparation for a European market launch in 2015,’ said Jordi Carrera, CEO and co-founder of STAT-Diagnostica.