EMPE Diagnostics raises MSEK 9 for launch in India
This week, EMPE Diagnostics completed a new share issue of a total of SEK 9.2 million with Sciety. 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.
The company will now recruit additional key personnel in India and conduct final product validations in the Indian market. The work will be monitored by Joy Sarojini who has validated a number of established solutions for tuberculosis diagnostics in India. The company has also engaged Raghavendra Goud, General Manager of GE Healthcare Lifesciences South Asia as an advisor.
Based in Sweden are Pavan Asalpuram (CEO) and Mats Nilsson (Board Member), who is the co-founder of a number of tech companies, including the listed Q-linea. EMPE Diagnostics has also contracted Prof. Sven Hoffman, an internationally renowned expert in tuberculosis research, as advisor.
Andreas Lindblom, CEO of Sciety states:
“Every year, about 10 million people worldwide fall ill with tuberculosis and more than 30% are estimated to remain undiagnosed. There is a huge demand for effective diagnostic solutions from, among others, WHO. We believe that EMPE Diagnostics has an important role to play in the continuous fight against tuberculosis.”
In Sweden, Niklas Adalberth, founder of Klarna and Norrsken 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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