26 September 2022 | News
Addressing the critical need gaps in diagnosis globally
Goa-based Molbio Diagnostics, which provides innovative solutions for universal access to high-quality healthcare, has announced that Singapore-based Temasek has invested $85 million in the company.
Molbio is known for its game-changing Truenat technology – a point-of-care, portable, battery-operated Real-Time PCR platform. Hailed globally as a high-impact breakthrough innovation, Truenat is the world’s first point-of-care molecular diagnostic platform to get endorsed by the World Health Organization (WHO) as a replacement to smear microscopy for the diagnosis of Tuberculosis. The technology can be deployed at all levels of the healthcare chain, including very remote and inaccessible areas, to provide early, rapid, and accurate diagnosis of infectious diseases, aiding in timely and appropriate treatment. The platform can test for over 40 diseases in addition to TB, including COVID-19, Hepatitis, HIV, HPV, and vector-borne diseases like Dengue, Chikungunya and Malaria.
Onboarding Temasek, alongside existing investors such as Motilal Oswal Alternates, will further strengthen and accelerate the company’s ability to develop and commercialize a host of near-care technologies based on clinical need gaps. Furthermore, this will also help the company in fast-tracking its efforts to take the Truenat platform to global markets.
Sriram Natarajan, Director and CEO, Molbio Diagnostics, said, “The demand for high-quality, point-of-care molecular diagnostic systems is higher than ever today. The strategic partnership with Temasek will strengthen our ability to provide sustainable choices to address global healthcare challenges.”