Richmond Hill-based Qvella has raised a $25 million CAD Series B. The molecular diagnostics company is developing technology that enables the rapid detection of infectious agents in a direct blood sample. When implemented in concert with Antibiotic Stewardship programs — now being adopted by most major medical centres — clinical decisions can be made in a more timely manner.
The funding round was co-led by Qvella’s existing investor syndicate, including RA Capital, Whitecap Venture Partners, Hatteras Ventures, and Sands Capital. bioMérieux, a company that delivers in vitro diagnoses, joined on as a strategic investor.
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