BATM Advanced Communications Ltd (LSE:BVC) has invested US$3.5 million as part of a US$7.5 million fundraising round by ADOR Diagnostics, raising its stake in the molecular diagnostics company to 43.6%.
ADOR is developing NATlab, an advanced diagnostics platform using isothermal technology for faster, more accurate detection of infectious diseases. Pre-clinical trials are underway at a hospital.
With multiple patents granted globally, BATM sees a US$15.8 billion addressable market for NATlab by 2025.
ADOR's technology enables on-the-spot diagnosis and treatment. BATM's increased investment comes as ADOR progresses R&D and nears commercialization of NATlab.
As a pioneer in real-time technologies, BATM aims to support rapid innovation in molecular diagnostics through its stake in ADOR.
BATM's chief executive Moti Nagar said: "We are very excited about the groundbreaking potential of ADOR, which has a technology that is set to truly disrupt the molecular diagnostics market - and is backed by a strong and growing international patent portfolio.
"This investment, supported by our vast experience of transforming IP into market-ready products, will advance the development of ADOR towards what we believe will be a significant value-creation opportunity for BATM. We look forward to reporting on ADOR's progress."