Gradientech closes $2.2M Equity Funding Round

Uppsala Sweden, August 30, 2018. The Swedish biotech and diagnostics firm Gradientech has successfully raised 20 MSEK ($2.2M) in equity funding among its existing investors.

Gradientech is a privately owned company developing the in vitro diagnostic (IVD) QuickMIC™ system, a promising platform based on phenotypic bacteria growth analysis. The system is expected to become the most rapid solution for diagnosing appropriate antibiotic treatment of sepsis patients. Rapid antibiotic susceptibility testing is considered essential for increasing sepsis patient survival, especially in the global situation of increasing antibiotic resistance.

The equity funding will be used for the continued market-driven design and development of the QuickMIC™ diagnostic system with the aim to initiate clinical validation during 2019.

Gradientech has in total raised $4.5M during the last year in private equity funding. The Gradientech Board of Directors is in conjunction with the funding round extended with Henrik Didner as new director. Henrik Didner is co-founder and one of the owners of the Swedish fund management firm Didner&Gerge.

“Henrik brings valuable business and investment expertise to the Board and we look forward to his guidance with respect to the company’s interests”, says Camilla Huse Bondesson, chairman of the Gradientech board.

For further information, please contact:
Sara Thorslund, PhD, CEO Gradientech
Tel: +46 736 29 35 80
sara.thorslund@gradientech.se

About Gradientech
Gradientech is a diagnostics company developing the in vitro diagnostic QuickMIC® system, a new platform for antibiotic susceptibility testing based on phenotypic bacterial growth analysis. The system is expected to become the most rapid solution for determining appropriate antibiotic treatment of sepsis patients. Rapid antibiotic susceptibility testing is vital for increasing sepsis patient survival, reducing healthcare costs and lowering the spread of antibiotic resistance. www.gradientech.se