MBio Diagnostics Revenue and Competitors

MBio Diagnostics will be the platform of choice for on-the-spot testing across industries and applications. When we think of on-the-spot testing, we often think of home pregnancy tests?quick and convenient, but can leave you guessing when the results are faint. That uncertainty defines the limitations of today?s technology, based on paper strips with minimal controls and an inherent ambiguity that is not fixed even with an ?electronic eye? readout. The desired solution is a system that provides precise quantitative readout, while preserving the simplicity and speed of the ?home pregnancy?-type test. The need for rapid, on-the-spot testing is large, totaling over $8B across medical, veterinary, food, and environmental testing. More than one billion units of the crude paper tests are manufactured each year. Recognizing the limitations of traditional visual interpretation, a half dozen major manufacturers have implemented electronic eye readout. This is an incremental but incomplete solution, and both end-users and the manufacturers continue searching for a next generation approach. There have been dozens of attempts to take rapid testing beyond the traditional paper test. This technology is called ?lab on a chip?, often integrating electronic chips and nanometer-sized features into complex microfluidic devices that try to replicate the procedures of a laboratory. The approach is costly, and subject to failures such as clogging of the nanometer-sized features. MBio has approached the problem from the ground up, tapping into our team?s deep understanding of measurement science to keep the devices simple and sensitive. MBio employs a unique waveguide approach?our LightDeck® technology?that not only simplifies the test processes, but allows simplified manufacturing steps. The uniqueness is embodied in over two dozen issued patents and patent applications in process. MBio is enjoying rapid acceptance of our platform for bringing new tests to the point-of-use.