Pacific6 Enterprises and JM Molina Investments Announce a Joint Investment in Detact Diagnostics

December 18, 2020

Pacific6 Enterprises and JM Molina Investments, today announced a joint investment to acquire a 33% interest in Detact Diagnostics™, a Netherlands-based life-science company.

Pacific6 is an investment partnership founded, in part, by John Molina, the former CFO of Molina Healthcare. His brother, J. Mario Molina, M.D., former CEO of Molina Healthcare, is the principal behind JM Molina Investments.

Detact Diagnostics™, founded in 2014 by former trauma surgeon Joost Gazendam, specializes in the development of bacterial and viral detection technologies. The company’s innovative, patented technique can accurately and reliably detect the presence of a bacteria or virus within minutes. This proprietary detection platform – uniquely suited to developing quick, affordable, point of care tests – serves as the foundation for the company’s current development of a rapid Covid-19 screening test, CoviTact©.

The novel CoviTact© saliva screening test is low-cost and requires no laboratory processing nor trained clinical staff to administer, and yields results in under two minutes – making it ideal for strategic deployment at venues worldwide.

“Joost and his team have been laser-focused on creating an innovative, disruptive diagnostic technology,” said John Molina, Founding Partner at Pacific6. “This investment will extend our company’s international reach and help accelerate the development of affordable, reliable testing technologies that will dramatically change the rapid-test landscape.”

“We couldn’t be more enthusiastic to partner with the Molinas,” said Dr. Joost Gazendam, CEO of Detact Diagnostics. “They share our vision for healthy living and we’re excited to have a partner that not only provides funding but also brings a vast amount of experience as a leader in the healthcare industry.”

Medical Device News Magazine
Medical Device News Magazine provides our readership with breaking medical device / biotechnology news. Our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

More News!

MMI notes the funds will support commercialization of the Symani® Surgical System in high-growth markets and continued investment in studies that generate clinical evidence and enable indication expansion. Investments will also accelerate advanced technology capabilities and enable MMI to scale its operational capabilities globally.
“We are excited to begin our journey as a public company with this additional investment. We believe Tevogen’s patient-centric approach, which merges a focus on affordability with advanced science, is a blueprint for sustainable success in the current era of healthcare. I am pleased that investors now have the opportunity to participate in Tevogen’s mission to become the very first life science company offering commercially attractive and affordable personalized T cell therapies for large patient populations in virology, oncology, and neurology, said the CEO of Tevogen Bio.
MB2 Dental notes the financing will be used to fund upcoming acquisitions and future growth for the company, following a record year of growth in 2023 with 150 new partnerships.
Procyrion notes the funding will support the DRAIN-HF pivotal IDE trial evaluating the company's Aortix pump, internal R&D programs to improve manufacturability, and commercialization preparation.
PhotoniCare, in January of this year, announced that the U.S. Food and Drug Administration had granted clearance for its TOMi™ Scope for non-invasive imaging of the middle ear.

By using this website you agree to accept Medical Device News Magazine Privacy Policy