Gradientech secures $9 million in oversubscribed investment round
Innovative Swedish diagnostics company Gradientech announces closure of an oversubscribed financing round totalling $9 million (SEK 80 million). The round was executed by a combination of existing shareholders and several new investors appointed by Swedish financial advisor, Redeye. Bird & Bird Lawyers acted as legal advisors.
"We are thrilled to have successfully completed this financing round in order to finalise the development and initiate a market introduction of our QuickMIC® diagnostic system," says Dr Sara Thorslund, CEO and co-founder of Gradientech. "The round was oversubscribed by almost 200% and it is very encouraging to see the strong confidence investors have in Gradientech and the potential they see in our significantly faster system for antibiotic resistance testing of samples from sepsis patients. The investment round gives us the flexibility and endurance needed when working at the
forefront of leading-edge innovative diagnostics."
"The large investment interest also indicates an increased awareness of infectious diseases and sepsis," says Sara Thorslund. "Antimicrobial resistance and sepsis are serious global health threats that will last far beyond the current pandemic, and ourfirm belief is that the focus of coming life science investments will reflect this future scenario."
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