Mologic develops point-of-care diagnostic devices and lateral-flow tests that provide early-warning screening for COVID-19. Founded in 2003 by Mark and Paul Davis, the company targets markets and disease states where rapid, accurate point-of-need testing can improve patient care. Its work on affordable testing for neglected tropical diseases has been supported by grant funding, most significantly from the Bill & Melinda Gates Foundation. The recent transaction will transition Mologic into a social enterprise under Global Access Health to expand access to affordable medical technology through decentralized research, development, and manufacturing for the global south. Members of Global Access Health will invest at least £30 million (approximately $41 million) as part of the deal. Company leadership says the move is intended to deliver affordable diagnostics to underserved places and serve as an example for others. Mologic develops rapid diagnostic products and technology for point-of-care testing. The company is led by Chief Scientific Officer Professor Paul Davis and CEO Mark Davis. It has advanced a 10-product portfolio to pre-market evaluation, with three products receiving CE mark approval in 2016. The remaining products were slated for launch in 2017 and 2018. Mologic received a $4.8M grant from the Bill & Melinda Gates Foundation. The funds will be used to establish CARD, a new technology centre to create rapid diagnostic test technology for detection of protein biomarkers at the point-of-care. Mologic is a Bedford, UK–based developer of point-of-care diagnostic devices aimed at enabling patients to manage their own conditions. Its product pipeline includes systems for people with long-term respiratory problems to use at home, intended to maintain better lung function through more effective medication use. The company also runs a contract research business offering commercial assay development, enzyme therapeutics and pilot manufacturing. Clients for its contract research business include blue-chip pharmaceutical companies and leading medical device manufacturers. Mologic plans a series of products to reach market-readiness over the next three years, beginning in the first half of 2016, and will both self-commercialize and partner via sales and distribution deals as appropriate. It recently raised funding to support commercialization, clinical trials and regulatory approvals.

Total raised

$50M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2021