AMR diagnostic specialist Gradientech raise $4.6m

Gradientech said it will use the proceeds from the rights issue for commercialisation of its QuickMIC™ diagnostic system. QuickMIC™ is a microfluidic system for real-time detection of bacterial growth in gradients of antibiotics. It allows to reduce time to result in antibiotics susceptibility testing from 22h to 2-3 hours. Time for selection of an appropriate antibiotics therapy is critical in sepsis. QuickMIC™ also allows to fight antimicrobial resistance by selecting of appropriate antibiotics. In the fully subscribed rights issue, Erik Penser Bank AB acted as financial advisor while Bird & Bird Lawyers acted as legal advisors.

Dr Sara Thorslund, CEO of Gradientech commented: “We have now successfully completed Gradientech's largest rights issue, which provides capital for continued development and early market introduction of our QuickMIC™ diagnostic system. Our system is significantly faster than existing laboratory techniques for antibiotic resistance testing of samples from sepsis patients. This is critically important for the sepsis patient, and also advantageous for the healthcare economy since the length of stay in hospital can be reduced. The implementation of our QuickMIC system can also reduce improper use of antibiotics, which is very import to combat the global increase in antibiotic resistance."