Mobidiag Secures €25 Million Loan to Advance Infectious Disease IVD Platforms

VCBeat (WeChat Official Account: vcbeat) has learned that molecular diagnostics company Mobidiag recently announced the signing of a €25 million growth capital loan facility with the European Investment Bank (EIB). Notably, the EIB loan will be supported by the European Fund for Strategic Investments (EFSI) through the European Growth Finance Facility (EGFF). This new four-year loan will help Mobidiag advance the development and commercialization of its two in vitro diagnostic platforms, Amplidiag and Novodiag.

The Novodiag molecular diagnostics platform enables fully automated monitoring of infectious diseases, including antibiotic resistance. By combining real-time PCR (polymerase chain reaction) and microarray technology, the Novodiag platform can directly analyze patient samples placed in disposable cartridges, providing comprehensive screening for single or multiple pathogens in approximately one hour. Compared with traditional screening methods that require several days, this platform significantly reduces screening time. Clinicians can make early diagnoses to initiate timely treatment for patients, thereby preventing the spread of infection.

The Amplidiag platform is a family of diagnostic tests designed for medium- to high-throughput screening of gastrointestinal pathogens and antibiotic resistance, comprising the Amplidiag Easy instrument and Amplidiag test kits. The Amplidiag platform further enhances the performance and capabilities of the kits by automating the workflow from stool samples to results. It provides integrated services for automated nucleic acid extraction and PCR plate setup for all Amplidiag products. This reduces hands-on time for sample processing, enables the generation of results from multiple sample batches within a single day, and delivers sample results faster than any other available high-volume nucleic acid screening solution.

“Mobidiag CEO Tuomas Tenkanen stated, ‘The loan from the European Investment Bank further confirms that Mobidiag has become a leader in the molecular diagnostics market, capable of providing innovative and differentiated solutions to key laboratories across Europe. We are pleased to have the support of the European Investment Bank and look forward to collaborating with them again.’”

Alexander Stubb, Vice President of the European Investment Bank, stated, “Enhancing the innovation capacity of Europe’s life sciences companies is currently of significant importance. While the European Investment Bank has historically focused on supporting infrastructure development, in recent years it has shifted its investment focus toward innovative enterprises, a trend that is particularly evident in Finland. We are pleased to support Mobidiag in its continued growth.”

Jyrki Katainen, Vice-President of the European Commission responsible for Jobs, Growth, Investment and Competitiveness, added: “Researching and developing methods to halt the spread of infectious diseases is a critically important endeavor, yet it comes at a high cost. With the support of the EFSI guarantee, the European Investment Bank can provide Mobidiag with the funding needed to realize its ambitions, making the world a safer and healthier place to live.”

Since 2016, the European Investment Bank has made a significant contribution to Mobidiag’s growth by providing a €15 million loan facility. Notably, the final tranche disbursed in November 2018 helped Mobidiag successfully achieve multiple operational milestones during the development, validation, and subsequent launch of its proprietary “sample-in, result-out” diagnostic solution, Novodiag. With this new €25 million loan, Mobidiag will continue to pursue growth by expanding its product portfolio.

(Compiled by Li Chengping)