« Return to News | Drug Sponsors

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

September 30

Novartis-Walgreens pilot study blurring the line between retail pharmacy, investigative site

CISCRP to launch traveling science museum exhibit to demystify clinical trial participation

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

October

New growth and decline in Asia clinical trials
South Korea, Japan, China see big growth in 1572s, while India posts huge drop

Harnessing Big Data to transform clinical trials
From protocol to patient recruiting, data analytics can yield valuable insights

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

September

Sponsors look to collaborate on comparator drugs
Co-therapies, comparators are in 60% of studies, cost $25m per company a year

Early adopters implement risk-based monitoring pilot programs
Experiments aim to offer long-term solutions, despite short-term uncertainties

Already a subscriber?
Log in to your digital subscription.

Purchase the September issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.