EMPE Diagnostics raises MSEK 9 for its launch in India
This week EMPE Diagnostics completed a new share issue of a total of MSEK 9.2. The company has developed a quick test for tuberculosis and the new capital will support the establishment of operations in India where tuberculosis is a major health problem.
“With the new capital, we will establish a production and sales organisation in India where we see an enormous potential for our diagnostic solution. Through cooperation with Sciety, we have new shareholders who share our vision and who can contribute in different ways to our continued development,“ states Pavan Asalapuram, CEO and co-founder of EMPE Diagnostics.
Now the company will recruit further key individuals in India and execute the final product validation in the Indian market. This validation work will be monitored by Joy Sarojini who has validated a number of established solutions for tuberculosis diagnostics in India. The company also has Raghavendra Goud, General Manager of GE Healthcare Lifesciences South Asia is one of its advisors.
In Sweden, Pavan Asalpuram (CEO) and Mats Nilsson (Board Member). Mats has been co-founders of a number of tech companies, amongst others, listed Q-linea. The company also has Sven Hoffner as an advisor who is an internally renowned expert in tuberculosis.
Andreas Lindblom, CEO of Sciety states:
“Approximately 10 million people in the world contract tuberculosis each year and more than 30% fail to be diagnosed. There is a huge demand for effective diagnostic solutions from, amongst others, WHO. We believe that EMPE Diagnostics has an important role to play in the continued fight against tuberculosis.”
In Sweden, Niklas Adalberth, founder of Klarna and Norrsekn Foundation, has brought public attention to EMPE Diagnostics, and the company has also had positive responses from the Indian public health agency and WHO.
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