Biotech Diagnostics Funding

GNA Biosolutions raises $13.5M for its first point-of-care molecular diagnostic

GNA Biosolutions raised $13.5 million to support its point-of-care molecular diagnostics platform designed to quickly examine samples taken from whole blood, sputum and nasal swabs.

The Munich-based company’s series C round was backed by a consortium of investors spanning the U.S. and Europe led by new backer GreyBird Ventures alongside Occident and Wachtumsfonds Bayern.

GNA’s previous investors, SHS Gesellschaft für Beteiligungsmanagement, Robert Bosch Venture Capital, UVC Partners, Mey Capital Matrix, KfW and btov Partners also participated in the round. The funding will be slated for GNA’s work toward a CE mark as an in vitro diagnostic.

“Rapid molecular diagnostics are key to patient care across an increasingly broad range of therapeutic areas, and particularly infectious diseases,” GreyBird partner Tom Miller said in a statement.

GNA employs pulse controlled amplification (PCR) technology to amplify nucleic acid signals. Compared to conventional PCR testing, where samples must be heated and cooled by the analyzer through multiple chemical reactions, GNA places small heaters in the consumable itself that modulate the temperature in microsecond pulses.

The goal is to produce a platform that can deliver results in minutes and allow for portable, battery-operated devices—along with infectious disease assays for tuberculosis, MRSA and drug-resistant Gram-negative bacteria.

“We believe PCA technology will resolve many limitations of existing molecular diagnostics, enabling fast therapeutic decisions that improve patient care,” added Miller, who previously served as CEO of Siemens Medical Systems and the medical operations of Carl Zeiss and was named chairman of GNA’s board of directors.

GNA plans to initially launch its point-of-care platform in the EU, followed by the U.S.

“We believe having this unique combination of European and U.S. investors on board gives GNA an edge—we have assembled a great consortium which will provide us not only with a tremendous depth of experience but also visibility and access to decision makers across our key launch markets,” said GNA’s co-founder and managing director Federico Buersgens.

Original Article: (https://www.fiercebiotech.com/medtech/gna-biosolutions-raises-13-5m-for-its-first-point-care-molecular-diagnostic)

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