Medical device specialist Atomo Diagnostics has raised AUD4.5 million in new equity funding from a number of professional investors including the New York-based Global Health Investment Fund (GHIF), as well as a company associated with former managing director and CEO of Macquarie Group, Allan Moss.
The new investment follows receipt of a USD6 million (AUD7.8 million) loan to Atomo by GHIF in January this year.
The latest investment will also see Global Health Investment Fund managing partner Dr Curt LaBelle join the Atomo board.
LaBelle says: “Our fund is pleased to provide additional support to Atomo Diagnostics through this equity investment. Atomo has developed a unique platform enabling quick, accurate and affordable point-of-care and consumer diagnostics.”
Moss is an active investor in the medical device sector and emerging disruptive global technologies.
Moss says: “Atomo has developed a remarkably user-friendly and accurate testing device which has the potential to assist greatly in detecting HIV and other diseases in Africa and globally.”
Atomo Diagnostics chairman John Keith says: “We are delighted GHIF is now a shareholder. We welcome them to the board and look forward to working to further expand Atomo’s presence in the global health market.”