{"id":12625,"date":"2022-12-06T02:31:36","date_gmt":"2022-12-06T02:31:36","guid":{"rendered":"https:\/\/pictordx.com\/?p=12625"},"modified":"2022-12-06T02:36:42","modified_gmt":"2022-12-06T02:36:42","slug":"pictor-announces-funding-round-after-successful-launch-in-new-zealand-and-usa-of-sars-cov-2-antibody-test","status":"publish","type":"post","link":"https:\/\/odwstage.com\/dev.pictor.dx\/2022\/12\/06\/pictor-announces-funding-round-after-successful-launch-in-new-zealand-and-usa-of-sars-cov-2-antibody-test\/","title":{"rendered":"Pictor announces funding round after successful launch in New Zealand and USA of SARS-CoV-2 Antibody Test"},"content":{"rendered":"\t\t
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$5 million raise to accelerate global market development and product development<\/i><\/p>

AUCKLAND, New Zealand, December 05, 2022<\/b>—\u00a0Pictor<\/a>, a global leader in immunodiagnostics, today announced a funding round to help accelerate pipeline product development projects along with market development activities within Australia\/New Zealand, the US and Europe for its Human Health and Animal Health portfolios.<\/p>

This follows the recent successful launch of the PictArray\u2122 SARS-CoV-2 IgG Antibody Test through Rako Science in New Zealand and key partners in the US. “The test better informs patients and doctors in determining whether the patient should be immunized or boosted,” said Pictor\u2019s Chief Medical Officer Tadd Lazarus, MD.<\/p>

Pictor\u2019s multiplex technology enables two key different approaches \u2013 testing for multiple diseases or testing for different stages\/multiple markers of a disease, all within a single enzyme-linked immunosorbent assay (ELISA) test well. This can provide both greater sensitivity (accuracy), higher throughput and cost efficiencies.<\/p>

\u00a0Within the Human Health space, Pictor\u2019s current focus is expanding access to its highly accurate tests for COVID-19 antibodies and accelerating the development of its test for tropical fevers. Pictor has also leveraged its multiplex platform to develop an Animal Health business and is poised to launch two tests in Q2, 2023. The PictArray\u2122\u00a0<\/span>Mycoplasma bovis<\/i>\u00a0(<\/span>M. bovis<\/i>) and PictArray\u2122 Johne\u2019s Disease tests, developed with support from the Ministry for Primary Industries\u2019 Sustainable Food and Fibre Futures fund, will enable more accurate and effective dairy and beef herd management both in New Zealand and internationally.<\/span><\/div><\/div>

In announcing the financing, Pictor CEO Howard Moore said: “This funding round provides a potential opportunity for investors to realize a significant increase in value through the near-term commercialization of our current pipeline, along with acceleration of future product development projects.”<\/p>

Former Morrison & Co. CEO Marko Bogoievski is helping lead the current funding round following his investment and involvement in Pictor since early 2022.<\/p>

About Pictor<\/b><\/p>

Pictor is an in vitro diagnostics company that offers a patented multiplexed platform for highly accurate and efficient testing of complex and infectious diseases for human and animal health. PictArray\u2122 multiplexed technology makes it possible to test multiple disease markers in a single test simultaneously \u2014 with higher sensitivity, faster throughput, and reduced turn-around time. The company\u2019s lead product, the PictArray\u2122 SARS-CoV-2 IgG ELISA Kit, enables more informed clinical intervention to manage the threat of COVID-19. For more information, please visit\u00a0http:\/\/pictordx.com<\/a>,\u00a0https:\/\/www.linkedin.com\/company\/pictorltd<\/a>\u00a0and @PictorLtd on Twitter or Facebook.<\/p>

About Marko Bogoievski<\/b><\/p>

Known as a high-conviction investor, Marko Bogoievski served as the chief executive officer of New Zealand-based Morrison & Co before stepping-down in December 2021. His career saw him lead Morrison & Co to become a global leader in infrastructure investment, specifically focused on data, renewable energy and healthcare. In his thirteen-year tenure with Morrison & Co, Bogoievski led growth in funds under management to over US$20 billion<\/p>

View source version on businesswire.com:\u00a0https:\/\/www.businesswire.com\/news\/home\/20221204005013\/en\/<\/a><\/p>

Contacts<\/b><\/p>

Grant Zehnder
grant@bospar.com<\/a>
+1 440.714.7958<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

$5 million raise to accelerate global market development and product development AUCKLAND, New Zealand, December 05, 2022— Pictor, a global leader in immunodiagnostics, today announced a funding round to help accelerate pipeline product development projects along with market development activities within Australia\/New Zealand, the US and Europe for its Human Health and Animal Health portfolios. 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