05/26/2020 - Press

Series B Financing Round: 16.3 million Euros (USD 17.8 million) to Prepare Market Launch of Rhonda SARS-CoV-2 Rapid Testing System

The financing round will enable the market launch of the innovative diagnostic platform Rhonda for the detection of the SARS-CoV-2 virus, which the company is developing together with Hahn-Schickard.

Spindiag GmbH, a medical technology start-up company founded four years ago as a spin-off of the Hahn-Schickard Institute for Microanalytical Systems, today announced the completion of a 16.3 million Euros (USD 17.8 million) Series B financing round as expected. Existing investors as well as Think.Health Ventures, a new investor from the healthcare sector, have participated in the Series B, the company’s fourth financing round. The capital increase will enable the market launch of the innovative Rhonda diagnostic platform for the detection of the SARS-CoV-2 virus. The Rhonda “mini-lab” was designed with decentralized settings in mind to enable simple and reliable testing at the point of care. It applies a two-step polymerase chain reaction (PCR) test, which represents an advantageous variation of the laboratory gold standard PCR test and will be able to provide test results about a corona virus infection in approximately 30 to 40 minutes.

The system is currently undergoing analytical testing. Spindiag expects to receive market approval in Germany and the EU during the third quarter 2020.

Read the complete press release by Spindiag

Published news by Hahn-Schickard related to this topic:

• State funds the development of rapid tests for coronavirus
• Wirtschaftsministerin informiert sich über Entwicklung von Corona-Schnelltests in Freiburg