Rapid Pathogen Screening Inc. announced that it has landed a US$6.25 million investment from Mallitz Investment Group. Mallitz is a Sarasota-based firm that centers its operations on strategic investments into cash-flow generating businesses. Headquartered in Sarasota, Florida, Rapid Pathogen Screening Inc, develops, manufactures, and distributes rapid point-of-care diagnostic exams.
A statement from the company said that the venture investment was in the form of convertible notes. The statement further elaborated that the capital raised will be used to improve the growth of the company by financing its development projects. The capital is also going to be used to support the commercial successes of current products, the statement said.
The Mallitz investment was only one of two investments obtained by Rapid Pathogen Screening. The diagnostic test provider also sealed a previous round of private equity funding from individual angel investors. Documents at the U.S. Securities and Exchange Commission said Rapid Pathogen Screening collected around US$2.3 million from 25 investors in the previous round of financing.
Join the Conversation