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Bloom Diagnostics raises capital for COVID-19 antibody tests

The smart diagnosis system developed by Bloom Diagnostics is set to make COVID-19 antibody testing accessible to all. The test process takes just ten minutes, with the MedTech firm having now raised a total of 11.7 million US dollars to finance market introduction in Europe and the USA.

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Bloom Diagnostics has closed a Series B financing round having raised a total of 11.7 million US dollars. The round was led by Thomas Pfisterer of the WILD Group, according to an article on startupticker.ch. The fresh capital is set to be put towards additional research as well as expanding in Europe and the USA. Among the existing investor base are the Austrian firm Speedinvest and the Walter Group from Canada.

The MedTech start-up founded in Zurich in 2018 is developing a smart diagnosis system for a broad spectrum of diseases. Its flagship product, the Bloom System, is designed to make smart testing available to all. It also enables users to collate their health biomarkers via real-time feedback within an app, maintain an overview of these and exchange information with doctors. The new Bloom System for COVID-19 antibody tests with real-time results is to be released on the market imminently, the article states.

Bloom Diagnostics has developed a fully integrated COVID-19 serological test for professional use into the Bloom System. It has been validated by Professor Adriano Aguzzi, Director of the Institute of Neuropathology at the University Hospital Zurich (USZ). With this test kit, Bloom Diagnostics is aiming to demonstrate the ease of use and value of the real-time feedback to ordinary users without prior, specialist knowledge in a controlled professional environment.

The test could help authorities to understand the rate of spread and the development of immunity with certain regions, while it may also be valuable in tracking the efficacy of a vaccine. “Combining those insights, globally, anonymized and in real time, will generate improvements that benefit the public”, comments Thomas Kupper, Co-founder and Chief Product Officer at Bloom, in the article.

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