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MBio Diagnostics, Inc. Announces Additional $6 Million in Series B Funding

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Funding Supports Scaling of Portable On-the-Spot Testing Platform

MBio
Diagnostics, Inc.
, a company leading a new era in rapid, on-the-spot
clinical diagnostics and sample testing, announced an additional $6
million in Series B financing led by new and existing investors,
including MBio's recently announced strategic veterinary partner, Heska.
The funding supports the refinement of the MBio platform and
improvements in manufacturing as the company scales-up to support its
commercialization partners.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180821005108/en/

MBio's patented LightDeck® technology, a powerful fluorescence assay illumination and imaging approa ...

MBio's patented LightDeck® technology, a powerful fluorescence assay illumination and imaging approach (Photo: Business Wire).

The MBio platform brings remarkable simplicity of use and speed to a
broad range of test modalities, from protein arrays and nucleic acid
detection to cellular analysis. The platform's simplicity is enabled by
the MBio LightDeck® technology, which is based on planar
waveguides and fluorescent detection, and eliminates the need for sample
prep. LightDeck® technology has applications in medical and
veterinary diagnostics, food safety testing, and environmental
monitoring. MBio's approach is differentiated from other rapid test
methods: it is low cost (injection-molded plastic consumables), highly
reproducible, and readily scalable to large volume manufacturing.

"MBio is rapidly becoming the platform of choice for test applications
in all market segments from medical and veterinary to food and
environmental," said Chris Myatt, CEO of MBio Diagnostics. "This funding
enables growth driven by our veterinary partner Heska, our recently
launched water quality tests, and a portfolio of clinical testing
partners."

About the MBio Array System

The MBio Array System is a portable, easy-to-use multiplex reader that
provides lab-quality results in 1 to 20 minutes employing low-cost,
disposable load-and-go cartridges. The System utilizes patented LightDeck®
planar waveguide technology that eliminates sample prep and can be
designed to detect all key analytes including: proteins, cells, nucleic
acids, and small molecules.

About Heska

Heska Corporation (NASDAQ:HSKA) manufactures, develops and sells
advanced veterinary diagnostic and specialty healthcare products.
Heska's business is composed of Core Companion Animal Health ("CCA")
segment, which represents approximately 80% of revenues, and Other
Vaccines, Pharmaceuticals and Products ("OVP") segment. CCA segment
includes, primarily for canine and feline use, Point of Care Laboratory
testing instruments and consumables under a unique multi-year Reset
Subscription model, digital imaging products, software and services,
local and cloud-based data services, allergy testing and immunotherapy,
and single use offerings such as in-clinic diagnostic tests and
heartworm preventive products. OVP segment includes, primarily for herd
animal health, private label vaccine and pharmaceutical production under
third party agreements and channels. For further information on Heska
and its products, visit www.heska.com.

About MBio Diagnostics

MBio is leading a new era in rapid, on-the-spot clinical diagnostics and
sample testing. Our portable MBio multiplex analyzer and disposable
cartridge enable low-cost, rapid answers in 1 to 20 minutes. MBio aims
to be the platform of choice for leading providers and users of clinical
and analytical testing services in all market segments including:
medical, veterinary, environmental, food, agricultural and military. www.mbiodx.com

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