MBio Diagnostics Locks In $6.3 Million

MBio Diagnostics, Inc. Closes $6.3 Million in Series B Funding

Funding Supports Partnering of Portable On-the-Spot Testing Platform

BOULDER, CO--(Marketwired - May 21, 2015) - MBio Diagnostics, Inc., a company leading a new era in rapid, on-the-spot clinical diagnostics and sample testing, announced today the closing of $6.3 million in Series B financing led by new and existing private investors. The funding supports the refinement of the platform and improvements in manufacturing as the company executes a partnering strategy to commercialize the technology.

The MBio platform brings remarkable simplicity and speed to a broad range of test modalities, from protein arrays and nucleic acid detection to cellular analysis. The platform’s simplicity is enabled by the MBio LightDeck® technology, which is based on planar waveguides and fluorescent detection. LightDeck® technology has applications in medical and veterinary diagnostics, food safety testing, and environmental monitoring. MBio’s approach is differentiated from previous waveguide methods in that it is low cost (all plastic design), highly reproducible, and readily scaled to large volume manufacturing.

“MBio aims to be the platform of choice for leading providers and users of clinical and analytical testing services in all market segments from medical and veterinary to food and environmental,” said Chris Myatt, CEO of MBio Diagnostics. “This funding allows our team to support existing collaborations and explore new market opportunities across a broad range of industries.”

About the MBio Array System

The MBio Array System is a portable, easy-to-use multiplex reader that provides lab-quality results in 1 to 20 minutes employing low-cost, disposable load-and-go cartridges. The System utilizes patented LightDeck^® planar waveguide technology which eliminates sample prep and can be designed to detect all key analytes including: proteins, cells, nucleic acids, and small molecules.

About MBio Diagnostics

MBio is leading a new era in rapid, on-the-spot clinical diagnostics and sample testing. Our portable MBio multiplex analyzer and disposable cartridge enable low-cost, rapid answers in 1 to 20 minutes. MBio aims to be the platform of choice for leading providers and users of clinical and analytical testing services in all market segments including: medical, veterinary, environmental, food, agricultural and military. www.mbiodx.com