MANCHESTER, UK – Myconostica, a Manchester UK-based medical diagnostic company which specialises in rapid and highly specific tests for life-threatening fungal infections, has completed the third close of a $10.8 million round of financing with a $2 million investment from the UMIP Premier Fund. The company is building a South Carolina facility.

Fungal pneumonia is the leading cause of infectious death in leukaemia and after bone marrow transplantation and is the most common first manifestation of AIDS. Myconostica’s test detects the two most common causes of fungal pneumonia, which account for over 95% of cases, in less than 4 hours.

The total capital raised in this financing will support the launch of Myconostica’s first two products. The first product is the world’s first real-time molecular diagnostic simultaneously testing for both Aspergillus and Pneumocystis. The second product is a fungal DNA extraction system.

The company is building a facility in South Carolina.

http://www.techjournalsouth.com/news/article.html?item_id=5395