Debiopharm has committed an eight-figure sum to recently acquired subsidiary GenePoc and has also agreed to set up a new production line.
Canada-based diagnostic test developer GenePoc secured tens of millions of dollars on Tuesday from its parent company, biopharmaceutical conglomerate Debiopharm.
The deal also includes a commitment by Debiopharm to invest several million Swiss francs (SFr1m = $1m) in its Valais, Switzerland facility to establish a production line for components needed for GenePoc’s tests.
Founded in 2007, GenePoc is developing rapid diagnostic tests that deliver results within an hour. It is initially focusing on pathogenic bacteria and antibiotic resistance markers but…
