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Great Basin Scientific, Inc. Raises $3.6 Million in Bridge Funding to Prepare for Launch of First Product
Date:6/17/2009

SALT LAKE CITY, June 17 /PRNewswire/ -- Great Basin Scientific, Inc., a privately held life sciences company developing novel, point-of-care molecular diagnostic solutions, today announced it has closed $3.6 million in bridge funding to support the company through 2009 and the launch of its first product, pending FDA 510(k) clearance in December. Returning investors participated in the funding round.

"With this round of financing we have secured all the funding needed for our entrance into the market as the second generation of diagnostic testing, a disruptive technology platform that promises accurate, point-of-care results and comes at a lower cost than the industry standard," said Ryan Ashton, president and CEO, Great Basin Scientific.

Successful Pre-clinical Study Completed

As part of the preparation for an August clinical trial for its first test- a 50 minute diagnostic test for Methicillin resistant Staphylococcus aureus (MRSA) from a positive blood culture, Great Basin Scientific is leading several pre-clinical studies. The company conducted a successful feasibility study last spring as it successfully characterized 132 retrospective samples from study collaborators at Children's Memorial Hospital in Chicago and Denver Health Hospital. Testing was performed at Great Basin Scientific's lab in Longmont, Colo.

"The results of the pre-clinical study completely met our expectations and keep us right on track as we approach clinical trials," said Rob Jenison, Great Basin Scientific's chief technology officer and vice president of development.

Beginning as early as mid-July, several major hospitals will serve as beta-testing sites for Great Basin Scientific's point of care molecular platform. During beta-testing, clinicians will test the analyzers and provide feedback on process flow and functionality. The testing will serve as preparation for the clinical trials schedule
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SOURCE Great Basin Scientific, Inc.
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