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Hibergene Diagnostics, a company focussed on applying molecular technology to the infectious disease segment of the diagnostics market, has closed a Series B Funding Round of €6.7m.
The Series B Round was led by Cantor Fitzgerald with Hibergene’s Series A Investors also participating in this round, including Kernel Capital, through the Bank of Ireland Kernel Capital Venture Funds. Further funding was provided through MedCaptain, Hibergene’s distributor for China. EIS investment in UK was advised by Ruffena Capital Ltd resulting in UK based investors subscribing for shares via the SyndicateRoom investment platform.
The new funds will be used to expand Hibergene’s R&D programmes, with a number of new products planned for launch in 2017. To date, Hibergene has launched five products. These include HG Meningococcus, HG Group B Streptococcus, HG C. Difficile, Strepelle and the HG Swift platform. The company also has products in development for Mycoplasma Pneumoniae, Flu A/B and RSV 1/2, and these will be launched in 2017.
In addition, the company will accelerate the expansion of its international distributor network. Hibergene currently has 24 distributors covering 36 countries, across Europe, Asia, the Middle East and Africa, and this will be expanded to cover additional territories including North and South America.
Brendan Farrell, CEO of HiberGene, said: “We are grateful to our investors for providing the funding which will enable Hibergene to significantly expand both its range of diagnostic products and its global reach. With its excellent portfolio of products capable of rapidly and accurately diagnosing infectious diseases, coupled with a growing network of distributors and end-users, Hibergene is well placed to become a global provider of unique and innovative diagnostic products.”
For more information, please contact:
Tel: +44 (0)7899 796655
Chairman & CEO
HiberGene Diagnostics Limited
Notes to Editors:
HiberGene is a diagnostics company focussed on applying molecular technology to the infectious disease segment of the diagnostic market. Utilising the LAMP platform, HiberGene has developed rapid and highly sensitive diagnostic tests for Meningococcus, Group B Streptococcus and C. difficile which can be used in almost any clinical or laboratory setting. HiberGene intends to continue to expand its test menu for the detection of human infectious diseases.