Pictor announces funding round after successful launch in New Zealand and USA of SARS-CoV-2 Antibody Test-biotech.vision

Pictor announces funding round after successful launch in New Zealand and USA of SARS-CoV-2 Antibody Test

 Pictor, a leader in immunodiagnostics, launched a fundraising round to hasten pipeline product development projects and market development initiatives for its Human Health and Animal Health portfolios in Australia/New Zealand, the US, and Europe.

The PictArrayTM SARS-CoV-2 IgG Antibody Test was recently successfully introduced by Rako Science in New Zealand and important partners in the US. According to Pictor’s Chief Medical Officer Tadd Lazarus, MD, the test “better educates patients and clinicians in evaluating whether the patient should be vaccinated or boosted.”

With the use of Pictor’s multiplex technology, it is possible to test for several illnesses or for various disease stages or indicators in a single enzyme-linked immunosorbent assay test well. This may offer improved sensitivity, increased throughput, and cost-effectiveness.

Expanding access to its extremely precise testing for COVID-19 antibodies and hastening the development of its test for tropical fevers are Pictor’s current priorities in the human health sector. Pictor has also developed an Animal Health company using its multiplex platform and plans to start two tests in Q2 2023. More precise and efficient dairy and beef herd management will be possible thanks to the PictArrayTM Mycoplasma bovis (M. bovis) and PictArrayTM Johne’s Disease tests, which were developed with assistance from the Ministry for Primary Industries Sustainable Food and Fibre Futures fund.

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 the acceleration of future product development projects.”

In announcing the financing, Pictor CEO Howard Moore 

About Pictor

A unique multiplexed platform for extremely accurate and effective testing of complex and infectious illnesses for human and animal health is provided by Pictor, an in vitro diagnostics business. Multiple disease indicators may be tested at the same time using PictArrayTM multiplexed technology, with improved sensitivity, increased throughput, and quicker turnaround. The PictArrayTM SARS-CoV-2 IgG ELISA Kit, the company’s flagship product, offers better-informed clinical intervention to manage the threat of COVID-19.

About Marko Bogoievski

Before resigning in December 2021, Marko Bogoievski, a well-known high-conviction investor, served as the CEO of Morrison & Co. in New Zealand. His leadership over his tenure helped Morrison & Co. become a leader in infrastructure investment around the world, with an emphasis on data, renewable energy, and healthcare. Bogoievski oversaw Morrison & Co.’s rise in funds under management to over US$20 billion during his thirteen years there.

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