Hememics Biotechnologies Inc., ("Hememics" or the "Company") announced that AMVI Partners, a consortium of high net worth Vietnamese investors, has invested $2.5 million into Hememics. The company will use the funds to initiate clinical research for supporting a U.S. Food and Drug Administration (FDA) submission of a novel point-of-care technology for detection of pathogens in under a minute.
The Company has developed a handheld device and a multiplex panel chip that can be used anywhere for ultra-rapid detection of bacteria or proteins. The technology is being developed initially to address the growing need for rapid diagnostics in the detection of sexually transmitted infections (STI), a global market that is forecast to reach $140 billion by 2025.
AMVI Partners, an investment firm with offices in McLean, VA, was introduced to the Company by the Vietnamese American Business Council (www.VABC.US), a non-profit organization also based in McLean, VA, with a mission to create business opportunities between the U.S. and Vietnam.
We are thrilled to engage in this productive partnership with Vietnamese investors through AMVI Partners. Given the worldwide growth rates for STI such as chlamydia, gonorrhea and HPV, we are especially honored to have interest from the international investment community in our technology."
John Warden, CEO and co-founder of Hememics
David Ho, PhD, CSO and co-founder of the Company added:
Our long-term relationship with VABC has made this progress possible. This significant investment will enable us to achieve key milestones on our path to commercial availability."