Global BioDiagnostics
Startup biotechnology company tackling one of the largest unmet healthcare needs in the world.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
$1.3m | Series A | ||
| Total Funding | 000k | ||
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Global BioDiagnostics Corp. is an early-stage biotechnology firm founded in 2009 by Michael Norman and Chris Thornton. The company was established to commercialize the Rapid TB Diagnostic Assay, a technology developed by researchers at Texas A&M Health Science Center College of Medicine, Texas A&M University, and Stanford University. The company's mission is to develop, manufacture, and distribute low-cost, easy-to-use, rapid diagnostics for the global infectious disease market, with a particular focus on the needs of low-resource settings.
The core of Global BioDiagnostics' offering is a biophotonic detection platform that utilizes reporter enzyme fluorescence to detect active tuberculosis (TB). This technology was designed to significantly increase the sensitivity of detection compared to traditional microscopy, the most common diagnostic method in many parts of the world. The primary application of this technology is a point-of-care test for TB, intended to be both rapid and simple to use in environments with limited resources. In a significant milestone, the company entered into a collaboration with the Geneva-based Foundation for Innovative New Diagnostics (FIND) to further develop this TB test. This partnership provided funding and development assistance to advance the technology.
The business model centers on addressing critical needs within the global infectious disease market. By focusing on affordability and ease of use, the company targets a client base that includes healthcare providers in low-resource settings, potentially supported by global health organizations. The company's financial strategy has included raising capital through funding rounds, having secured $3.22 million over three rounds, including a Series A round of $1.25 million in March 2015. According to available information, the company is now considered deadpooled.
Keywords: rapid diagnostics, infectious disease diagnostics, tuberculosis test, point-of-care diagnostics, biophotonic detection, low-cost diagnostics, global health, medical diagnostics, TB detection, reporter enzyme fluorescence, low-resource settings, biotechnology, diagnostic assay, Texas A&M, Michael Norman, Chris Thornton, FIND collaboration