SALT LAKE CITY, Oct. 7 Great Basin Scientific, Inc., aprivately held life sciences company developing novel, point-of-care moleculardiagnostic solutions, today announced it had closed a $3.9 million financinground. New and returning investors participated in the funding for thisround.
The new round of financing will fund the company through the spring of2009 as it completes the design of its rapid molecular diagnostic testingplatform and brings a methicillin-resistant Staphylococcus aureus (MRSA) testinto clinical trials. The silicon chip based technology is simple,cost-effective and improves on the highly complex, traditional PolymeraseChain Reaction (PCR) method that requires the skills of highly-trainedtechnicians and often times multiple rooms to avoid cross contamination oftests. The company's highly-sensitive, easy-to-use integrated cartridgesystem which can be performed in a CLIA-rated moderately complex or waivedlaboratory, will give healthcare providers and their patients the benefit ofpoint-of-care test results within a 20 - 60 minute time frame at costs muchlower than current molecular solutions.
"This financing coincides with an exciting time for our company as webegin to develop important technology that will bring rapid disease diagnosisnearer to the patient to improve clinical outcomes and reduce treatment cost,"said Ryan Ashton, president and CEO, Great Basin Scientific. "This commitmentby our investors shows a strong indication of confidence in our innovation,use of technology, strategy and leadership team. "
About Great Basin Scientific
Great Basin Scientific, Inc. is a privately held life sciences companythat commercializes breakthrough technologies for the molecular, rapiddiagnostic testing market. The company is dedicated to development of simpleyet powerful point-of-care technology and products that improve automation,throughput, scalability, reliability and ease of use of rapid diagnostictesting for point-of-care settings such as physician's office labs,small-medium hospital labs and other moderately complex laboratory facilities.
The company was founded in 2003 by David Ward, Ph.D., deputy director ofthe Nevada Cancer Institute, formerly of Yale University of Medicine, andAnthony R. Torres, M.D., senior scientist and director of the ImmunogeneticsLaboratory, Utah State University. More information can be found on thecompany's Web site at http://www.gbscience.com.
SOURCE Great Basin Scientific, Inc.