Mobidiag completes a 4M euros funding supported by the Finnish investment service company Springvest Oy.

Mobidiag, an Espoo, FInland-based company that develops innovative solutions to advance the diagnosis of infectious diseases, announced completing a 4M euros ($4.7M) funding supported by the Finnish investment service company Springvest Oy (former Kansalaisrahoitus).

This funding was completed before the closing date by more than 200 investors and aims at supporting Mobidiag in its global business development, including its capacity to answer growing needs for the new Novodiag solution.

At the same time, Mobidial received received a €1.5M loan from Business Finland (formerly Tekes). The company will use the funds for the development of a sepsis assay on the new Novodiag system.

Mobidiag, founded in 2000 and led by CEO Tuomas Tenkanen, provides innovative solutions for in vitro diagnostics of infectious diseases. The company has been using its expertise in the detection of gastrointestinal infections and multi-drug resistant organisms, also known as “superbugs”. Product lines currently available (Amplidiag and Novodiag) are well suited for all types of laboratories bringing effective DNA technique closer to patients in a user-friendly and economically effective format, reducing overall healthcare costs and directing better patient treatment.

In 2017, Mobidiag secured another round of 4M Euros in a similar crowdfunding campaign on Kansalaisrahoitus.