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Mobidiag Announces Completion of €10m Equity Investment from Autobio Diagnostics

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Mobidiag Ltd., a commercial stage molecular diagnostics company addressing the spread of antimicrobial resistance, today announces the completion of the €10m equity investment from Autobio Diagnostics (‘Autobio’), as announced on 18 December 2018, with receipt of all funds.

Proceeds from the €10m equity investment from Autobio will be used by Mobidiag to continue growing its product portfolio, accelerate the development of further assays for the Novodiag® system and enhance its manufacturing capabilities, as well as continuing to facilitate Mobidiag’s commercial expansion.

The Novodiag® platform is an innovative molecular diagnostics solution allowing fully automated detection of infectious diseases, including antibiotic resistances. The platform combines real-time PCR and microarray technologies, to allow direct analysis of samples placed in a disposable cartridge. It also allows for comprehensive screening of multiple or single pathogens within approximately one hour, allowing clinicians to be better informed when making time-critical decisions, helping to deliver early treatments and avoid the spread of infection.

Tuomas Tenkanen, CEO of Mobidiag, said ““We are pleased to welcome Autobio as a shareholder in Mobidiag and we look forward to continuing our work with them as we progress our recently announced joint venture in China. The receipt of the €10m equity investment significantly strengthens our cash position and allows us to continue advancing the diagnosis of infectious diseases and antibiotic resistances through the launch of innovative and affordable molecular diagnostics.”

- Ends -

Notes to editors

About Mobidiag Ltd

Mobidiag is a commercial stage, fast growing molecular diagnostics company whose affordable, widely applicable and robust technology makes the power of molecular diagnostics available to address the spread of antimicrobial resistance (AMR) by rapid detection of pathogens and their potential resistance to antibiotics. Through its Amplidiag® and Novodiag® solutions, Mobidiag offers a comprehensive range of fast, reliable and cost-effective molecular diagnostic solutions for the detection of infectious diseases to laboratories of all sizes.

Mobidiag is headquartered in Espoo, Finland, with subsidiaries in France, UK and Sweden. To learn more, visit www.mobidiag.com

About Autobio Diagnostics Co, Ltd

Founded in 1998, Autobio has become one of the leading clinical diagnostics companies in China. Autobio specializes in research & development, production, marketing and service of clinical diagnostic products, including immunoassay, microbiology and biochemical products. Autobio provides comprehensive solutions for medical laboratories.

Contact information

Mobidiag
Dorothee Allard, Marketing Communications Manager
+33 1 55 25 17 13
marketing@mobidiag.com

WG Partners (Financial advisor to the company outside the China region)
Andrew Craig, Partner
+44 203 705 9320
andrew@wgpartners.co.uk

Consilium Strategic Communications
Chris Gardner, Matthew Neal, Chris Welsh
T: +44 (0)203 709 5700
mobidiag@consilium-comms.com

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