Queensland biotech venture Microbio hunts for cash as bloodstream infection test trials prove positive

Biotech scale-up Microbio is looking to raise capital following positive domestic pilot study results for its bloodstream infection (BSI) test ahead of taking it to market

The Brisbane-based venture’s InfectID-BSI test has the potential for significant improvement in detecting bloodstream infection and sepsis, the world’s mostly deadly infection, with 11 million deaths annually. InfectID-BSI is an in vitro diagnostic test that can tell clinicians within three hours of taking a blood sample which infection to treat. 

Microbio has appointed the Landrich Group to manage clinical evaluation trials across four sites in the USA, India, South America and Australia with plans to submit the data generated to secure marketing clearance in Europe, India, USA and Australia. 

CEO Paul Carboon said the company has now begun a capital raise prior to the mid-year launch of InfectID-BSI in Europe head of entering the Indian, US, Australian and several Asian markets. London-based investment bank WG Partners are Microbio’s corporate advisors for the raise.

“This capital raise facilitates the clinical evaluation trials, increase commercialisation  resources, prepare for domestic and international manufacturing and offset anticipated initial marketing and distribution expenses,” he said.

“The launch of our test is keenly anticipated. It has been 16 years in development and thanks to  the support of key investors and tireless work by our scientific and administrative team we are within weeks of going  to market which is a major milestone for the company.”

Carboon said the current ‘gold standard’ method to identify the causative pathogen is a slow, two-step blood culturing and  identification process that takes between 12 hours and several days and has limited sensitivity.

“Microbio’s InfectID BSI provides the potential for early BSI/sepsis diagnosis and therefore earlier use of optimal antimicrobials, which is likely to reduce the length of hospital stays and healthcare costs.,” he said. 

The diagnostic test identifies 26 common BSI/sepsis-causing pathogens.

“We are excited that commercialisation is now imminent and that we are a step closer to providing this powerful  diagnostic tool to clinicians across the globe,” Carboon said.

Potential investors can contact the company at [email protected].