Labmaster raises €6M in funding

Labmaster Ltd, a Turku, Finland based biotechnology company raises €6M from a Korean company for the development of next generation proprietary detection technology.

Labmaster is developing new technology for clinical, biochemical and chemical analysis based on cathodic electrochemiluminescence (CECL). This technology relates to the electrical excitation of label substance/substances by hot electrons. Reactions occur on silicon based electrodes coated with an insulating layer and utilize the resulting electrochemiluminescence in analytical applications, especially in bioaffinity assays such as immunoassays and DNA-probe assays.

One of the advantages of this technology is cost effectiveness achieved by replacing expensive optics with low priced sophisticated electronics. This technology is suitable for many kinds of laboratory instrumentation applications, for example in clinical diagnostics from batch size analyzers to disposable rapid tests (POCT). Labmaster owns the immaterial property rights for this technology and has the strategy to further protect its findings related to new applications.

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