Pune-based Mylab launches 'Compact XL' to automate molecular diagnostic tests for COVID-19

#medtech #diagnostics #startups #India #covid19 #covidtesting #rtpcr

Pune-based molecular diagnostics company, Mylab Discovery Solutions Pvt. Ltd. has launched 'Compact XL' - India's first machine to automate the manual processes of molecular diagnostic tests such as RT-PCR tests for Covid-19. According to an official press release, Compact XL is a compact bench-top machine that will automate lab processes from sample handling to preparing RT-PCR ready tubes. The machine can take input of various sample types such as plasma, tissue, sputum and swab.

Speaking about benefits of this 100 per cent indigenously developed machine, Hasmukh Rawal, Promoter and MD, Mylab Discovery Solutions said, "Compact XL will replace the need of 700 sq ft of cleanroom lab with a 4x3 benchtop machine and reduce the need of 3-4 expert technicians to just one, saving operational costs for labs."

The machine can run 32 samples at a time which can be further increased when machines are connected in a network. Compact XL will be available for pre-ordering starting 13 July 2020.

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Pune-based Mylab launches 'Compact XL' to automate molecular diagnostic tests for COVID-19

Pune (Maharashtra) [India], July 7 (ANI): Pune-based molecular diagnostics company, Mylab Discovery Solutions has launched 'Compact XL' - India's first machine to automate the manual processes of molecular diagnostic tests such as RT-PCR tests for Covid-19.According to an official press release, Compact XL is a compact bench-top machine that will automate lab processes from sample handling to preparing RT-PCR ready tubes.It is a cartridge-based machine and can test multiple samples at the same time.

French startup Synapse Medicine raises $8 million for medical intelligence platform that informs correct drug use - Tech.eu

#medtech #telemedicine #healthtech #startups #startuptech #ai #artificialintelligence #fundingalert #startupfunding

Synapse Medicine - Medication Intelligence , French creator of a ‘medication intelligence platform’ dedicated to correct drug use, has raised $8 million in a funding round led by by the MACSF, a French insurance provider for healthcare professionals, with the support of XAnge, BNP Paribas, BPI and Nicolas Dessaigne, co-founder of Algolia.

In a press release, the Bordeaux-based startup, co-founded by Clement Goehrs, Louis Letinier and Bruno Thiao-Layel, cited that medicines are responsible for 130,000 hospitalizations and 30,000 deaths annually in countries such as France. “That is the equivalent to the death toll and hospitalization numbers of the COVID-19 epidemic occurring every year in the country,” Synapse points out.

Applying AI to pharmacology, the team wants to ensure the safety of prescription drugs in the new age of #telemedicine by making information widely available — to healthcare institutions, professionals and the general public. The #SaaS platform is also used by #telemedicine companies, integrated into their own platforms as a turnkey prescription solution.

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French startup Synapse Medicine raises $8 million for medical intelligence platform that informs correct drug use - Tech.eu

Synapse Medicine, French creator of a 'medication intelligence platform' dedicated to correct drug use, has raised $8 million in a funding round led by by the MACSF, a French insurance provider for healthcare professionals, with the support of XAnge, BNP Paribas, BPI and Nicolas Dessaigne, co-founder of Algolia.

Startup Funding Alert: 1mg Looks To Raise $17 Mn Debt From Existing Investors

#medtech #healthtech #startups #startupfunding #fundingalert

Online pharmacy 1mg is raising INR 133 Cr ($17 Mn) in debt from existing investors MPOF Mauritius, MAF Mauritius, HBM Healthcare Investment, AG’s subsidiary KWE Beteiligungen and World Bank’s investment arm International Finance Corporation (IFC).

1MG was launched in April 2015 after HealthKart separated its generic drug search business, HealthkartPlus, and rebranded it as 1MG. The company has three business verticals — pharmaceuticals, labs, and doctors. Its founders include — Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan. This year, the company has also received INR 20 Lakh in grant from Action Covid-19 Team (ACT) to tackle Covid-19 crisis in India.

According to DataLabs By Inc42+ estimates, the Indian healthtech market will contribute $21 Bn by 2025, which is still only 3.3% of the total addressable healthcare market which is pegged to reach $638 Bn in 2025. Startups competing with 1mg in the epharmacy space include PharmEasy, Netmeds.com, and Medlife.com. With its labs and doctors vertical, the company also competes with a slew of telemedicine startups such as Practo, Lybrate, MFine, and DocsApp.

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Exclusive: 1mg Looks To Raise $17 Mn Debt From Existing Investors

1mg's investors include IFC, HBM Healthcare Investments, KWE Beteiligungen and more The company had raised close to $70 Mn Series D round led by Corisol Holdings last year 1mg has also received INR 20 Lakh in grant from Action Covid-19 Team (ACT) to tackle the virus Online pharmacy 1mg is raising INR 133 Cr ($17 Mn) in debt from existing investors MPOF Mauritius, MAF Mauritius, HBM Healthcare Investment, AG's subsidiary KWE Beteiligungen and World Bank's investment arm International Finance Corporation (IFC).