Navigation Links
New Investors Fund Expansion of Cavidi AB
Date:11/16/2007

Funding to Lead to Improved HIV Management in Developing World

UPPSALA, Sweden, November 16 /PRNewswire/ -- Cavidi AB announced today that it has signed an agreement with a consortium of American and Swedish investors. The consortium has provided over US$1.0 million of operational funding, and has committed to raising additional funding as necessary. The capital will be used to drive forward Cavidi's newly adopted three-year business plan. Cavidi is the producer of ExaVir(TM) Load, an HIV viral load assay suited for resource-limited settings.

Viral load monitoring is essential for the proper management of HIV-infected patients being treated with antiretroviral drugs (ARVs). The test helps doctors use ARVs more effectively, extending a patient's length and quality of life, limiting the development of viral resistance and minimizing waste of medication.

The key members of the investment consortium include several American investors experienced in venture capital markets as well as senior Cavidi management. The three-year plan they are funding seeks to generate more than a five-fold growth in revenue. It will capitalize on the recent release of Cavidi's ExaVir Load Version 3 - a new and improved version of their HIV viral load assay. It is also part of the plan to appoint additional distributors in Asia. Further investment will be required in both working capital and equipment in order to undertake a major expansion in production capacity.

The consortium will appoint a new member to Cavidi's Board of Directors. They have also committed to raising additional capital over the life of the three-year plan as needed.

"This is an important step forward for Cavidi," said Martyn Eales, the company's CEO. "It gives us additional resources to fully promote the new version of ExaVir Load." Cavidi is also on the verge of finalizing agreements with major international non-government organizations, as well as new distributors in Africa and Asia. This will ensure their ability to capitalize on the the growing acceptance of leading HIV clinicians worldwide of viral load monitoring as an essential part of effective HIV management. "The easy-to-use, affordable and accurate HIV viral load monitoring that ExaVir Load provides is especially needed in resource-limited environments," said Eales. "It permits the optimal use of what is invariably a limited supply of ARVs."

He went on to say Cavidi expects a rapid increase in sales of ExaVir Load assay kits due to these new testing strategies as they incorporate viral load monitoring as an essential part of HIV management wherever it is provided.

About Cavidi AB

Cavidi's mission is to make medical diagnostics more accessible in those parts of the orld where resources and infrastructure are limited. Their products include ExaVir Load which is used to quantify the amount of HIV in a patient's blood, and ExaVir Drug which measures a patient's resistance to ARVs. Cavidi was founded by leading virologists at Uppsala University in Sweden in 1984.

http://www.cavidi.com


'/>"/>
SOURCE Cavidi AB
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Human Genome Sciences Invites Investors to Listen to Webcast of Presentation at JMP Securities Sector Focus Conference
2. Paramount Acquisition Corp. Announces Chem Rx Expansion into Albany, New York Market
3. The Arthur M. Blank Family Foundation Pushes for Pre-K Expansion in Georgia
4. ReBuilder Medical Technologies, Inc. Reports International Sales Expansion
5. LehmanMillet Continues Expansion with Strategic Hires
6. U.S. Reps. Oberstar and Walz Discuss DM&E Railroad Expansion With Rochester, Minn. Leaders
7. AARP Calls on Governor Schwarzenegger to Discourage Veto of SCHIP Expansion Bill
8. Illinois AARP Presses for Expansion of Childrens Health Insurance Program (SCHIP)
9. Expansion and Growth Spur INSPIRIS Executive Leadership Promotions
10. Susan G. Komen for the Cure Launches Unprecedented Global Expansion Program in 10 Countries
11. Chemizon Announces Research Collaboration Expansion With Takeda
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2017)... ... June 24, 2017 , ... Genes Advice, a ... in select Florida and Texas doctors' offices and clinics. This breakthrough testing is ... genetic testing recognizes the role genes play in determining an individual's tolerance of ...
(Date:6/24/2017)... ... , ... Doorknobs are for convenience, deadbolts are for security. , There are ... having an alarm system installed. But unless there is a working deadbolt lock that ... TX Premier Locksmith in Killeen, TX says: “In the majority of home burglaries, intruders ...
(Date:6/23/2017)... MA (PRWEB) , ... June 23, 2017 , ... ... Care Reconciliation Act (BCRA), their proposed healthcare bill to repeal and replace the ... May, the Senate bill would make significant cuts to Medicaid, a public health ...
(Date:6/23/2017)... ... June 23, 2017 , ... Military Connection friend and veteran advocate ... JFK Virgin Atlantic lounge. , Bensko is no stranger to the plight of ... dedicated her life to supporting our wounded veterans. A world-class photographer, her riveting photos ...
(Date:6/23/2017)... ... June 23, 2017 , ... Ensuring meat ... new videos highlight the importance of correctly using a meat thermometer. The videos ... done extensive research on consumer food safety habits. Dr. Bruhn explains the variety ...
Breaking Medicine News(10 mins):
(Date:6/20/2017)... 19, 2017  Hill-Rom Holdings, Inc. (NYSE: HRC), will host ... on Friday, July 28, 2017, beginning at 7:30 a.m. (CDT) ... Dial-in information: To participate in the conference call, dial (877) ... call at least 10 minutes prior to the start to ... Webcast: A simultaneous webcast ...
(Date:6/14/2017)... 14, 2017  ivWatch LLC, a medical device company ... (IV) therapy, is pleased to announce it was the ... Hospital Supplies and Equipment at the 2017 Medical Design ... medtech industry. The award was presented by Medical Device ... Center in New York during ...
(Date:6/12/2017)... June 12, 2017 Kineta, Inc., a biotechnology company ... Kineta Vice President of R&D and Head of Virology ... Pandemic Preparedness for the Northwest and Beyond meeting sponsored ... June 14, 2017 from 8:30-10:30 AM PDT at the Agora ... Dr. Bedard will be joined by other leaders ...
Breaking Medicine Technology: