BioFire Diagnostics secures $25M from Athyrium Opportunities Fund

Wednesday, September 19, 2012 10:38 AM

BioFire Diagnostics, a clinical diagnostics company based in Salt Lake City, Utah, has completed a $25 million financing with Athyrium Opportunities Fund, a New York-based fund focusing on investment opportunities in the global healthcare sector

The proceeds from the financing will be used to accelerate the commercialization of the company's FilmArray diagnostic platform. Proceeds will also be used to further develop additional panels beyond the FDA-cleared, CE IVD marked, FilmArray Respiratory Panel (RP), which simultaneously tests 17 viral targets and three bacterial targets in approximately one hour. These additional panels include a blood culture ID panel (currently in clinical trials), a gastrointestinal panel and a meningitis panel.

"We are excited to partner with Athyrium during this transformative stage of the Company's life,” said Kirk Ririe, CEO of BioFire. “This investment strengthens our already solid capital position and the company's ability to further penetrate the molecular diagnostics market. The FilmArray Respiratory Panel is just the first of many exciting panels which will drive the utility of the FilmArray platform for the medical community in the coming years."

Richard Pines, a principal of Athyrium, added, "Athyrium believes that BioFire is poised for significant future growth as hospitals continue to de-centralize their molecular diagnostic workflows and increasingly demand access to multiplex systems that can handle their testing throughput. The company's current RP panel and robust pipeline of future panels will position BioFire as a leader in clinical diagnostics arena."

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

October 20

Toronto Star, with FDA data, exposes weaknesses in Health Canada's clinical trial, inspection oversight

Crowdsourcing effort aims to fund updated online social media guide for sponsor interaction with patients

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

September

Today's fastest, most economical sponsors
Standout sponsors reveal how they shorten regulatory, clinical cycle times

From the trenches: Sites' eye view of state of the industry
CW’s first site focus groups uncover frustration with 'progress,' but a passion for their mission

Already a subscriber?
Log in to your digital subscription.

Purchase the September issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

August

Reality of costs and impact rain on Sunshine Act
Concerns mount over compliance burden on CROs, sponsors, unanticipated consequences for research

Cloud computing expanding into all areas of clinical trial conduct
Benefits outweigh the complexities, challenges of finding right vendors

Already a subscriber?
Log in to your digital subscription.

Purchase the August issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs