PORI, Finland--(BUSINESS WIRE)--Mobidiag Oy, a Finnish molecular diagnostics company, today announced that it has signed a 15 million euro loan with the European Investment Bank Group. As part of the InnovFin initiative, the loan will allow Mobidiag to finalize and scale up Novodiag® products manufacturing, assay validation and commercialization over the next 3 years. The operation is supported by ‘InnovFin – EU Finance for Innovators’, with the financial backing of the European Union under Horizon 2020 Financial Instruments.
"We are extremely pleased with the outcome of this loan and we are very
proud to be the 3rd recipient of a loan granted by InnovFin
Infectious Diseases since its creation. Since our Finnish and French
teams joined forces in 2013, we have thrived to become a key player in
the field of IVD for infectious diseases. Thanks to the EIB, we have now
the resources to reach our goals and build significant value over the
next years based on our state-of-the-art assays and platforms”, said
Tuomas Tenkanen, Mobidiag’s CEO.
The EIB loan will strongly
contribute to the development and validation of Novodiag®, a proprietary
‘sample-in, result-out’ diagnostic solution. Novodiag® platform
will offer an on demand automated solution for small labs or
decentralized units bringing key benefits such as low hands-on time,
ease of use and reliable results. Thanks to its extensive solution offer
and strategic presence in Finland and France, Mobidiag is able to answer
current health care challenges throughout Europe.
About Mobidiag
Established in 2000, Mobidiag develops
innovative solutions to advance the diagnosis of infectious diseases and
serves the European clinical diagnostics market since 2008. Mobidiag is
headquartered in Espoo, Finland, with a subsidiary in Paris, France.
Mobidiag is able to address both high volume and on demand testing with:
- The Amplidiag® product line, innovative multiplex tests for gastrointestinal infections. Based on well-established real-time PCR technology, they ensure optimal performance, suitability for high-volume screening use and cost-effectiveness in mid-sized to large laboratory settings.
- The new Amplidiag® Easy platform brings the Amplidiag suite further by automating the workflow from sample to results.
- Novodiag® platform and associated panels (upcoming) is a fully automated solution and suitable for smaller volumes and labs. Visit www.mobidiag.com for more information.
About EIB and InnovFin
The European Investment Bank (EIB) is
the only bank owned by and representing the interests of the European
Union Member States and strives to make a significant contribution to
growth and employment in Europe. The “InnovFin - EU Finance for
Innovators” programme consists of a series of integrated and
complementary financing tools and advisory services offered by the EIB
Group, covering the entire value chain of research and innovation in
order to support investments from the smallest to the largest enterprise.
Infectious
Diseases Finance Facility provides a broad range of financial
products ranging from standard debt to risk sharing instruments for
amounts between 7.5 and 75million euros, to innovative players active in
developing new innovative vaccines, drugs, medical and diagnostic
devices or novel research infrastructures for combatting infectious
diseases. Final recipients will be project developers that have
successfully completed the pre-clinical stage, and preferably early
stage clinical development, and would now require clinical validation or
be ready for later stage clinical trials.