Tuesday, May 17, 2022

Queensland biotech company Microbio chases money as bloodstream infection tests turn out positive

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Biotech scale-up Microbio aims to raise capital after positive domestic pilot study results for its bloodstream infection (BSI) test before it goes to market

The Brisbane-based company InfectID-BSI test has the potential for significant improvement in detecting bloodstream infection and sepsis, the world’s most deadly infection, with 11 million deaths a year. InfectID-BSI is an in vitro diagnostic test that can tell clinicians what infection to treat within three hours of taking a blood sample.

Microbio has appointed the Landrich Group to manage clinical evaluation trials at four locations in the US, India, South America and Australia, with plans to submit the data generated to seek marketing approval in Europe, India, US and Australia. to gain.

CEO Paul Carbone said the company has now embarked on a capital raising ahead of the semi-annual launch of InfectID-BSI in Europe, head of entry into the Indian, US, Australian and several Asian markets. London-based investment bank WG Partners are Microbio’s business advisors for the increase.

“This capital increase facilitates clinical evaluation trials, increases commercialization resources, prepares for domestic and international manufacturing, and offsets anticipated initial marketing and distribution costs,” he said.

“We are eagerly awaiting the launch of our test. It has been in development for 16 years and thanks to the support of key investors and the tireless work of our scientific and administrative team, we are within weeks of going to market, which is an important milestone for the company.”

Carboniferous said the the current ‘gold standard’ method of identifying the causative pathogen is a slow process of blood culture and two-step identification that takes between 12 hours and several days and has limited sensitivity.

“Microbio’s InfectID BSI offers the potential for early diagnosis of BSI/sepsis and thus earlier use of optimal antimicrobials, which is likely to reduce length of hospital stay and healthcare costs,” he said.

The diagnostic test identifies 26 common BSI/sepsis-causing pathogens.

“We are excited that commercialization is now imminent and that we are one step closer to delivering this powerful diagnostic tool to clinicians around the world,” Carbone said.

Potential investors can contact the company at info@microbio.com.au.

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