Great Basin Corporation, a molecular diagnostics company that develops sample-to-result solutions, has recently gained $9.5 billion in second stage - or "Series B - funding. The privately held company is working towards more accurate and information-rich detection of infectious diseases for more precise treatments, shorter hospital visits and reduced costs. The ultimate goal is to produce assays to perform in CLIA-rated laboratory at a lower cost than other molecular diagnostic solutions.
"There is a critical need in the healthcare industry for an information-rich, low cost test platform that offers a significantly simplified workflow," said Ryan Aston, president and CEO of Great Basin Corporation. "
The second round of funding, led by returning private investors, provides Great Basin with the opportunity to accelerate potential growth and development - specifically with the addition of three clinical trails in the upcoming year for its Staph ID/R Assay. The Staph ID/R Assay is "an automated DNA Multiplex than can Identify major pathologic strains of Staphylococcus to the species level as well as the presence or absence of methicillin-resistance determinant gene, mecA." Staph infections are one of the leading causes of hospital-acquired infections, 60 percent of which are methicillin resistant (MRSA).
Great Basin recently received FDA clearance for its first product, "a molecular diagnostic test for toxigen Clostridum difficile (C. diff) - one of the most common and deadly hospital-acquired infections" -and launched sales in November 2012. With the addition of 9.5 million in Series B funding, the company's other assays currently in-the-works, like the Staph ID/R Assay, get the boost they need to follow.