Molecular diagnostic company Mesa Biotech recently notched a $20 million series B round.
San Diego-based Mesa Biotech is focused on commercializing products like Accula, its portable test system for infectious diseases, delivering results at the time and place of patient care, also known as point of care.
"Unlike other available molecular POC (point of care) products in the market, our Accula system has a low-cost entry point and operating cost, requires no calibration or refrigeration of components and minimal maintenance," said CEO and co-founder Hong Cai.
The recent funds will be put to work toward development, increased production, commercialization, facilities expansion and hires.
The privately held company disclosed the series B round, which came in early July, in a July 26 press release. Earlier this year the company brought in a $3 million series A round.
With $23 million in funding, Mesa Biotech is debt free, according to the press release.