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Alveo Technologies, a pre-clinical stage medical diagnostics firm, announced that it has raised $38 million in Series A financing. The Alameda, California-based startup, which was founded in 2014, said it plans to use the funding to advance the optimization and commercialization of its rapid diagnostic platform for infectious diseases. The firm's technology combines nucleic acid detection with molecular biochemistry in order to identify such illnesses.

According to the firm, its platform combines sample prep, genetic material amplification, and real-time detection in a single isothermal microfluidic channel. With a single sample, the platform can multiplex at least 100 tests at once.


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