Mobidiag Secures Additional Funding from Business Finland for Rapid Sepsis Diagnostic Test
7.1.2020 10:00:00 EET | Business Wire | Press release
Mobidiag Ltd., a revenue generating, molecular diagnostics company with complementary platforms that address antimicrobial resistance and other areas of unmet diagnostic need, today announces that it has been granted EUR 1.5 million (~$1.65 million) additional funding from Business Finland (formerly Tekes) for the continued development of a rapid diagnostic test for sepsis using Mobidiag’s Novodiag platform. This additional funding has been secured as a result of strong 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 EUR 3 million (~$3.3 million).
Mobidiag is harnessing the power of its Novodiag platform to develop a fast, simple and reliable syndromic assay to detect sepsis within two hours, directly from a patient’s blood sample. Mobidiag has previous experience in developing a diagnostic test for sepsis, its former Prove-it product which was able to detect 80 targets simultaneously from blood cultures.
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.
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.”
“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”, says Raimo Pakkanen, Chief Advisor of Business Finland.
About Mobidiag Ltd.
Mobidiag is a revenue generating, fast growing molecular diagnostics company with complementary platform technologies that can meet the differing diagnostic needs for customers in multiple healthcare settings. Initially designed for ease of use and adaptability for large scale manufacturing, Mobidiag’s Amplidiag and Novodiag platforms provide a combination of high quality and affordability, allowing for widespread applicability for both mass screening and highly specific syndromic testing in multiple indications. The Company’s highly versatile product offering enables the broad application of molecular diagnostics to address the global challenge of antimicrobial resistance and other unmet diagnostic needs. Mobidiag’s initial focus has been on gastrointestinal diseases and superbugs, through direct sales and distributors, and is rapidly building a leading position in European markets.
Mobidiag has more than 100 staff and is headquartered in Espoo, Finland, with subsidiaries in France, UK and Sweden. To learn more, visit www.mobidiag.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005102/en/
Contact information
Johanna Sarapää, Marketing Communications
+358 10 2054 771
marketing@mobidiag.com
Consilium Strategic Communications
Chris Gardner, Matthew Neal, Chris Welsh
T: +44 (0)203 709 5700
mobidiag@consilium-comms.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Archer® Proves Purpose-Built AI Beats General-Purpose LLMs on Regulatory Change Management: 95% Verified Accuracy, 80x Faster, 92% Lower Cost30.6.2026 17:13:00 EEST | Press release
For enterprises deploying AI in compliance, a wrong date is a missed deadline. The more dangerous failure is a wrong answer the model returns with high confidence, one that flows silently into a compliance calendar and is only discovered after the window has passed. Archer® today released results showing purpose-built AI beats a general-purpose large language model (LLM) on regulatory work, and it’s not close. This head-to-head test compared Archer’s purpose-built, vertical-specific AI and proprietary data sets against a leading general-purpose LLM, on a core compliance task: determining the publication, effective and comment-close dates of regulatory documents across six jurisdictions. General-purpose models are a genuine breakthrough, and this is no referendum on their quality. The question Archer set out to answer is narrower and more practical: what it takes to make a specific, high-stakes determination reliable, fast and affordable at scale. A vertical, domain-focused process, gro
Altasciences Supports Key Development Milestone for Steel Therapeutics’ Lead Therapeutic Candidate, Fizurex™30.6.2026 17:08:00 EEST | Press release
Altasciences, a leading drug development organization, today announced a significant milestone in the development of Steel Therapeutics, Inc.’s pivotal toxicology study for its lead product candidate, Fizurex™, for the treatment of anal fissures. The successful completion of the study plays a significant role in the advancement of Fizurex™ toward first-in-human trials. The GLP-compliant study demonstrated a favorable safety profile, which has advanced Steel Therapeutics' plans to submit an Investigational New Drug (IND) application for Fizurex™ to the FDA in Q3 2026. Fizurex™, a patent-pending, single-use topical wipe, was designed to provide a standardized, accessible treatment option for a painful and often undertreated medical condition. The product builds on years of use through compounding pharmacy prescriptions and is now advancing toward clinical development and regulatory review. "We are proud to have supported Steel Therapeutics with the generation of the high-quality safety d
Interactive Brokers Expands Access to Korean Equities with Launch of Nextrade ATS30.6.2026 17:00:00 EEST | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced the launch of select Korean equities through Nextrade, South Korea's first Alternative Trading System (ATS). The addition of Nextrade builds on Interactive Brokers' earlier launch of the Korea Exchange (KRX), through which it became the first major US-based broker to provide global investors with direct access to Korean equities. Clients trading on Nextrade benefit from significantly extended trading hours and access to additional liquidity. Interactive Brokers has enabled IB SmartRouting℠ across both the Korea Exchange (KRX) and Nextrade, automatically routing orders to the venue offering the best price. This helps clients achieve best execution while providing greater flexibility and more opportunities to participate in one of Asia's most dynamic equity markets. Korea's equity market ranks among the top global exchanges by market capitalization and is home to world-leading companies such as Samsung Electr
Andersen Global Adds Depth to Tax and Global Mobility Capabilities in Germany30.6.2026 16:30:00 EEST | Press release
Andersen Global strengthens its presence through a Collaboration Agreement with Lohr and Company (L+C), a senior-led tax advisory platform, providing practical, responsive solutions in tax compliance, cross-border tax, global mobility, and transfer pricing. Headquartered in Germany with a presence in Austria, L+C advises large multinationals and family-owned companies, family offices, foundations, and high-net-worth individuals. The firm, founded in 2001, specializes in areas such as global mobility, M&A, international tax law, country-by-country reporting, and transfer pricing, including Pillar 2 reporting. Additionally, L+C supports clients with trusts and foundations, tax compliance, payroll and financial accounting, and private financial advisory services. “Collaborating with Andersen Global represents an important step in expanding our international capabilities and strengthening the value we provide to clients navigating increasingly complex cross-border matters,” said Jörg-Andre
90% of IT Leaders See Gaps in AI Threat Readiness, Lenovo Brings Single Point of Accountability to Cyber Resiliency30.6.2026 16:00:00 EEST | Press release
As organizations accelerate AI adoption and digital workplace transformation, many are finding that cyber resilience is undermined not by a lack of security tools, but by growing operational complexity and threat sophistication. According to recent research, 90% of IT leaders acknowledge gaps in their ability to defend against AI-driven threats. While security investments continue to grow, many organizations face a different challenge: fragmented accountability. Security operations remain highly distributed and siloed, making it increasingly difficult to coordinate response efforts, maintain end-to-end business continuity, and recover quickly when incidents occur. To help organizations address this challenge, Lenovo is expanding its global Security Services portfolio with a revamped cyber resiliency framework and end-to-end security offerings designed to provide a single point of accountability, help organizations reduce security complexity, cut system downtime by up to 50%, and lower
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom