Rapid Diagnostics Announces Completion of Asset Purchase and New Corporate Strategies
LONDON, Jan. 8, 2020 /PRNewswire/ -- Rapid Diagnostics ML Limited, UK is pleased to announce the return of its Point of Care (PoC) platform, the MiniLab System.
Rapid was formed to purchase the assets and Intellectual Property (IP) of the former Enigma Diagnostics, which was liquidated in 2017. With the completion of the re-organization, Rapid Diagnostics initial activities are to secure equity investment and strategic partnership(s), registration of the Rapid MiniLab platform and first assays with China's National Medical Products Administration (NMPA, Former CFDA).
Robert Clink, CEO of Rapid, commented: "We are in the process of prioritizing various products for our commercialization strategy. As an example, we are super excited about our Multi-Drug Resistance Tuberculosis (MDR-TB) assay, which only takes about 45 minutes from raw sample to result. This makes the fastest PoC based molecular diagnostic test for MDR-TB on the market."
Working with other stakeholders and key technical staff, Rapid Diagnostics has established a modern manufacturing and engineering facility in Didcot, Oxfordshire, as well as capabilities in China to manufacture and assemble assay cartridges, other components and disposables.
Rapid Diagnostics has retained the advisory service of Lynx Financial, a Shanghai-based Investment Banking firm, to help the company in the search of strategic partners and investors. Donald Xu, Managing Partner of Lynx Financial, commented: "MiniLab platform, with its current and future assay offerings in the Respiratory Infectious diseases, can help address many unmet medical needs like TB and drug resistance in China and other under-served markets. We are honored to be working with the management team and scientists at Rapid Diagnostics to bring their visions into reality."
About Rapid Diagnostics ML
Rapid Diagnostics is a commercial stage, fast developing molecular diagnostics company. The MiniLab system is the culmination of over 140mil GBP in investment and 15 years of product development effort. The Company's product portfolio includes assays for detecting Influenza (A&B), RSV, RVP which have been tested and validated with over 900 real patient samples and have been granted CE Mark. Products under late-stage development include POCT assays for Tuberculosis, Multi-drug resistance to Rifampin and Isoniazid, as well as assays for detecting bacterial and viral Meningitis, Brucella and C. Difficile.
About Lynx Financial
Lynx Financial is a leading Investment and Advisory firm exclusively focused on Life Sciences and Healthcare sectors. With offices in China and U.S.A., Lynx Financial specializes in cross-border transactions involving private placements, M&A, joint venture and licensing.
Rapid Diagnostics ML Limited
Robert Clink, C.E.O.
Unit 9, Moorbrook Industrial Estate, Didcot, Oxfordshire, OX11 7HP
Flora Gao, Partner
1501 Century Avenue, GuoHua Life Financial Center, Suite 1001
Shanghai, China 200122
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