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| MBio's Array System--Courtesy of MBio Diagnostics |
Boulder, CO's MBio Diagnostics announced that it has raised $6.3 million in a Series B financing from new and existing investors, as it seeks to commercialize its portable MBio Array System for the detection of analytes like proteins, cells, nucleic acids and small molecules.
The company says the system can make diagnoses based on a single drop of blood using the optical MBio LightDeck Techonology, which is based on planar waveguides and fluorescent detection. The sample is placed in a plastic, disposable cartridge, where it is analyzed by the LightDeck in one to 20 minutes.
According the product website, the Array has been used to profile tuberculosis samples and detect and quantify toxins in water supplies. It's for research purposes only and has not been approved for use as a clinical diagnostic on humans.
In November, MBio signed a three-year contract with the U.S. Army to develop "a Ruggedized Portable Cartridge Reader for Malaria Diagnosis." And in 2013, MBio won $1.4 million grant from the National Institutes of Health to develop a point-of-care HIV test that doesn't require fancy laboratory equipment and can detect the disease prior to the build of antibodies, according to the Denver Business Journal.
MBio's SEC filing does not specify the names or types of investors in the financing round, or the company's revenues, if any. It states that the minimum investment accepted was $10,000, and specifies that the funding consists of equity and warrants to purchase convertible preferred stock.
- read the release
- here's the SEC filing