Cavidi to add €7.8 million in debt and equity funding

Cavidi, an Uppsala, Sweden-based diagnostics company supplying HIV monitoring tests in global markets, announced it completed a €7.8 million funding round.

The money is part equity part debt, specifically an underwritten equity injection of €3.30 million ($3.8M) from existing and five new investors and debt financing in the amount of €4.50 million.

Cavidi, founded as spinoff from Uppsala University and led by CEO John Reisky de Dubnic, develops, manufactures and distributes viral load tests in the field of HIV. The HIV viral load test measures the amount of HIV virus in a patient’s blood and is the most important clinical tool to determine whether HIV treatment is having the desired effect