British biotech firm QuantuMDx turns to crowdfunding to develop handheld malaria diagnostic device
British biotechnology firm QuantuMDx has turned to crowdfunding platform Indiegogo to raise capital for the development of a hand-held rapid malaria diagnostic device, according to VentureBeat.
With a small research team, molecular biologist and QuantuMDx founder Jonathan O'Halloran spent several years making a device that can rapidly analyze a blood sample, diagnose malaria, and screen for drug resistance in around 15 minutes. The device can also suggest an optimal treatment course for every patient, the report explained.
QuantuMDx's initial product is called Q-POC and is available for a portion of the cost of a modern laboratory, the product website said. Q-POC can be used in rural areas with no stable electricity or running water. The Newcastle-based firm plans to sell the device in Africa and India, in regions that lack health care and infrastructure, the report detailed.
A news release said QuantuMDx will conduct a campaign on February 12 to push the technology through clinical trials, the report added.
Elaine Warburton, QuantuMDx chief executive, hopes to commercialize Q-POC in 2015, VentureBeat reported.