Finland's ArcDia grabs $3.5M to fuel diagnostic test use

ArcDia has raised nearly $3.5 million (2.7 million euros) to fuel expanded use of its mariPOC diagnostic test for respiratory tract infections.

The Finnish company said its multianalyte point-of-care diagnostic system--which relies on a single swab--has been available in the European market since 2010, and used regularly in major hospitals there for about 12 months. Just last month, ArcDia said it inked its first distribution agreement for the product with Spain's Laboratories Leti S.L.U. And the firm is looking to expand further internationally, acknowledging it is talking to other European and Asian distributors for the product.

ArcDia describes mariPOC as being able to diagnose 9 viruses and bacteria related to respiratory infections, including influenza A/B, the RS-virus and the parainfluenza 1/2/3 viruses. The company also promotes the product as being "economically feasible for broad diagnostics use," in part because it offers results very quickly, in about 20 minutes, giving concise data.

Lifeline Ventures led the company's latest funding round. But private investors also participated, as well as existing investors Biothom and Veraventure, ArcDia noted in its announcement of the funding round.

- here's the release

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