Diagnostics for All won a $3.0 million grant from the Bill & Melinda Gates Foundation and the United Kingdom’s Dept. for International Development.
The funding, which will be spread over two years, is designated to support the development of three low-cost tests for identifying spoiled milk and infected maize with the goal of boosting productivity on African farms, DFA said
Milk and maize can spoil or become contaminated by toxins, and existing diagnostics are expensive and often require training and specialized instruments, according to the company.
The Boston-based, non-profit diagnostics firm’s new tests will be designed for ease of use, and could cost as little as a few cents.
"Our goal is to boost the production and improve the safety of two important foods — cow’s milk and maize — and increase smallholder farmer income," DFA CEO Una Ryan said in prepared remarks.
DFA last May won a $100,000 grant from the Bill & Melinda Gates Foundation, to further develop postage stamp-sized, paper-based technology for use in disease testing.
Here’s a roundup of the latest dealflow and investment news:
- Cardiorobotics drums up $6.6 million
Raynham, Mass.-based Cardiorobotics Inc. raised $6.6 million from a planned $12.5 million round, according to a Securities & Exchange Commission filing. The equity and options-based financing
was backed by 20 unnamed investors. Cardiorobotics has previously been supported by Pittsburgh-based Eagle Ventures, the Pittsburgh Life Sciences Greenhouse and Rhode Island-based Slater Technology Fund. The company, which is developing remote-controlled, snake-like robot devices for surgical procedures, was founded in 2005 and opened its Massachusetts headquarters in January 2010.
- Verizon Investments backs BL Healthcare’s latest funding round
Foxborough, Mass.-based BL Healthcare Inc. announced Verizon Investments Inc.’s participation in BL Healthcare’s most recent financing round. The investment, which was arranged through Verizon Communications Inc.’s Verizon Ventures group, facilitates BL Healthcare’s expansion of its remote health care solutions, including those underway with Verizon. Working with the Verizon Wireless LTE Innovation Center, BL Healthcare showcased HD video enabled remote health care applications running over the Verizon Wireless LTE 4G network at the Consumer Electronics Show in January and at the Hospital Information Systems Show in February. Verizon Ventures invests in technologies, applications and services that complement Verizon networks, service platforms and distribution channels.
- Intuity Medical secures $20 million debt facility
Sunnyvale, Calif.-based Intuity Medical Inc. secured a $20 million credit facility from Silicon Valley Bank and Oxford Finance Corporation. The funds will be used to help complete clinical trials and commercialize POGO, a fully-integrated blood glucose monitoring system. Intuity Medical’s POGO combines traditional blood glucose testing supplies into one compact meter and multi-test cartridge system. It provides One-Step testing with automatic blood sampling and glucose analysis. Because of its unique self-contained cartridge, patients with diabetes will no longer need to carry, handle or dispose of separate testing supplies. POGO can also provide healthcare professionals with an easier way to teach patients how to test their blood glucose and, ultimately, manage their diabetes.
- Mazor Robotics closes $6.3 million round
Israel-based Mazor Robotics Ltd. (TASE:MZOR) closed a PIPE funding round of $6.3 million, led by the Phoenix Holdings company and including the participation of additional leading Israeli financial institutions. Mazor will use the capital to expand its worldwide sales and marketing operations. The funding stands to strengthen the company’s ability to capture greater market share and to fully demonstrate the capabilities of SpineAssist to spine surgeons, neurosurgeons and orthopedic surgeons in key markets, specifically in the U.S. Recently, the company hired Christopher Sells, a 20-year veteran in the medical robotic industry and formerly the VP of Sales and Marketing at Intuitive Surgical, to lead Mazor’s U.S. sales efforts. Mazor also hired additional members for its US sales team, including a number of executives from the robotic medical industry.
- Fluidnet pulls in $500,000
Amesbury, Mass.-based Fluidnet Corp. raised $499,999 from a planned $2.0 million funding round, according to an SEC filing. A total of five unnamed investors participated in the financing. The company is currently navigating the Food & Drug Administration’s 510(k) clearance process for its new intravenous infusion pump system.