Dec 10, 2014
BioGenerator, an investment and entrepreneur support organization, has invested from its Post-Seed fund in BacterioScan, an in-vitro diagnostics company based in St Louis. The funds will enable the company to complete development of its first medical device product, used for rapid detection of bacteria in samples from patients with symptoms of a Urinary Tract Infection (UTI).
“BacterioScan’s technology is very promising,” said Dan Broderick, vice president of BioGenerator. “We are encouraged by the exciting, initial clinical data and the likelihood of a favorable regulatory classification for clinical use. BioGenerator recognizes BacterioScan’s opportunity for continued growth and looks forward to working closely with the company to build on initial success.”
BacterioScan uses laser technology for precise and real-time detection of bacteria in fluids. The laser-based technique was invented by one of the scientists behind Israel’s Iron Dome system. By using this detection technology to analyze fluids, BacterioScan’s instrument can detect infectious organisms and ultimately may provide clinicians guidance on treatment plans by determining the causative bacteria’s resistance to antibiotics. Its first instrument is a “research use only” version for UTI and was introduced in 2014. The company is currently working toward the launch of a qualified medical diagnostic instrument.
As part of the funding round, Broderick will join the board of BacterioScan. BioGenerator has a strong history of investing in diagnostic companies, with five diagnostic companies in its portfolio. This is the second BioGenerator investment in BacterioScan with the organization investing Seed funds in 2013.
BioGenerator produces a sustained pipeline of successful bioscience companies and entrepreneurs in St. Louis by creating, funding, and growing promising new enterprises. BioGenerator is a nonprofit subsidiary of BioSTL, which advances St. Louis’ prosperity by cultivating a thriving bioscience sector, building regional capacity to capitalize on St. Louis’ world class medical and plant biosciences. Please visit www.BioGenerator.org for additional information. Follow BioGenerator on Twitter @BioGeneratorSTL.