Qvella Raises US$20M in Series B Financing to Fund Clinical Trials, On-Going Research, Team Expansion, and Manufacturing Buildup

December 4, 2017 – Qvella, a leading molecular diagnostics company closed US$20 million in Series B financing. The funding round was co-led by Qvella’s existing investor syndicate – including RA Capital, Whitecap Venture Partners, Hatteras Ventures, and Sands Capital – and new strategic investor bioMérieux, a world leader in the field of in vitro diagnostics. The proceeds will be used to fund clinical trials, to support on-going research and development, and to facilitate team expansion and manufacturing scale-up.

This latest round of funding provides us with the capital to support the anticipated clinical trial of our first product for rapid detection of blood stream infections directly from whole blood. It will also facilitate ongoing research and development and enable us to expand our team. We have made a tremendous amount of progress since our last round of funding in 2015 and are grateful to our investors for their continued support of our vision of redefining rapid detection and subsequent treatment of septic patients.
— Tino Alavie, President, CEO & co-founder, Qvella