Epistem to roll out tuberculosis test following new agreement
Tuesday, July 22, 2014
Biotechnology and medicine company Epistem has entered into a funding agreement to support the roll out of its tuberculosis diagnostic platform to the world’s poorest countries.
Under the terms of the collobrative funding agreement with Global Health Investment Fund, Epistem has issued GHIF a five-year convertible bond totalling £4.7m.
The GHIF is an investment fund designed to provide financing to commercialise new and improved tools to fight diseases such as tuberculosis, malaria, HIV/Aids as well as maternal and infant mortality in the world’s poorest countries.
As part of the deal, both organisations will support and facilitate the introduction, distribution and sale of the Genedrive platform to poor countries.
The proceeds of the bond will be applied to the further development, production and commercialisation of Genedrive devices and an expanded menu of tests for the diagnosis of infectious diseases.
- Health Care