News and Announcements
Atomo Diagnostics Annual Update 2015; Secures Commitments for Over US$8m
- Published December 15, 2015 2:13PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
- Atomo Diagnostics secures commitments for over US$8 million to support continued global rollout
- Atomo has executed a Term Sheet with a leading Global Impact Fund and received preliminary board approval from the fund for an investment totalling US$8million. The investment, a combination of a loan and equity, will be used to scale up of Atomo’s manufacturing capabilities.
- Additionally, Atomo was awarded a grant of A$1.8 million from the NSW Medical Device Fund to commercialise a HIV self-test solution. To complete its capital activity, Atomo is seeking up to US$4 million in additional equity and intends to finalise the capital raise by February 1, 2016.
ABOUT ATOMO DIAGNOSTICS
Atomo Diagnostics is an emerging and multi-award winning medical devices company that has commercialised AtomoRapid™, the world’s first ever integrated rapid blood test. AtomoRapid™ makes obsolete longstanding “bits in a box” test kits. Improved safety, reliability and convenience with AtomoRapid™ results in overwhelming user preference.
Atomo is proving its commercial success, satisfying export driven demand for HIV, Malaria and Ebola. Atomo’s continued growth across diagnostic markets include a self-test solution targeting growing consumer markets, with Atomo agreeing to work with a global pharmaceutical company to launch and distribute Atomo’s consumer test range in Australia and New Zealand.
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