ArcDia raises € 2.7 million to Expand Multianalyte Point-of-Care Respiratory Tract Diagnostic Test

TURKU, Finland, May 9, 2012 /PRNewswire/ --

ArcDia Ltd (http://www.arcdia.fi/eng), the manufacturer of world's only multianalyte point-of-care diagnostic system for respiratory tract infections, completed today € 2.7 million funding round to expand its mariPOC^® diagnostics system. The round was led by Lifeline Ventures (http://www.lifelineventures.com) with the existing investors Biothom, Veraventure and private investors participating.

mariPOC® diagnoses nine common viruses and bacteria that are clinically important in respiratory tract infections - such as influenza A/B, RS-virus and parainfluenza 1/2/3 viruses - in a single swab test at point-of-care. The test enables targeted treatment decisions, saves staff time, provides reliable results rapidly and is economically feasible for broad diagnostics use. mariPOC^® is based on the proprietary ArcDia™ TPX detection technology (Nature Biotech 2000:18). mariPOC^® was launched to the European market in late 2010, and the product has been in routine clinical use in major hospitals for more than a year. The first distribution agreement was signed in April with Laboratories Leti S.L.U., the Spanish market leader in diagnostic testing of pneumo-respiratory diseases.

"Simply, instead of performing multiple tests that take time to administer and diagnose, and may be difficult to read, mariPOC^®  provides automated analysis for nine pathogens in one sample in 20 minutes - and with a clear, readable answer. No other diagnostics test platform has been able to provide this functionality and cost-effectiveness to enable respiratory tract infections testing at point-of-care", says Dr Aleksi Soini, CEO at ArcDia Ltd.

 "Before mariPOC^®, point-of-care multianalyte diagnostic platforms have been too complicated, expensive, difficult-to-use and inaccurate for respiratory tract infections.mariPOC^®  is taking into account clinical, economic and scientific mattersto enable multianalyte diagnostics for this world's most prevalent disease cluster", comments Timo Ahopelto, Founding Partner at Lifeline Ventures.

About ArcDia

Arctic Diagnostics Ltd (http://www.arcdia.fi/eng) has recently launched mariPOC^®, world's first multianalyte point-of-care diagnostics test for respiratory tract infections. Company's diagnostics test systems have been in use for over 12 months and performed tens of thousands of tests among the first customers. In the future, the company will develop additional point-of-care tests based on its proprietary ArcDia™ TPX detection technology (Nature Biotech 2000:18). Earlier this year, ArcDia announced distribution agreement with Laboratories Leti S.L.U. in Spain, and is currently actively discussing with distributors in Europe and Asia. More information at http://www.arcdia.fi/eng

About Lifeline Ventures

Lifeline Ventures (http://lifelineventures.com) is an early stage technology investor seeking strong science, product innovation and management teams in medical technology and Web. Lifeline aims at building world-class team of employees, customers, partners, advisors and investors for the companies it invests in. More information at http://www.lifelineventures.com