Israeli Diagnostics Firm Secures $10.7 Million

Pocared Diagnostics, an Israeli startup company that makes in-vitro diagnostics, has secured $10.7 million in financing — available in two $5.35 million installments — from Israeli investment firms Elron Electronic Industries and SCP Vitalife Partners. The investment makes Elron 22.5% owner of the three-year-old company.

Through its it’s Selective Spectrum technology, Pocared is developing point-of-care diagnostics for on-site analysis of human fluids and specimen, to provide physicians with real-time detection, identification and antibiotic sensitivity of pathogenic bacteria. Pocared plans to launch its first application, which will target medical IVD, within two years.

Elron’s director of business development, Elad Frenkel, said of his company’s investment, “We view Pocared as a highly innovative company presenting an out-of-the-box solution and introducing a disruptive platform technology in the field of real-time IVD.”

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