The company will use the money to fund its US commercialization strategy and continue to develop its host response-based product pipeline.

Heading into the J.P. Morgan Healthcare conference, pharmas have been focusing on discovery alliances. J&J’s deals look into novel tissue-targeted drugs, ionic liquid delivery technology and cancer vaccine R&D. Lilly teams with Entos on novel methods for delivering neurology drugs.

DiaSorin will distribute MeMed BV, a rapid point-of-care test that can differentiate bacterial and viral infections, under a new commercial agreement.

Following a busy year for point of care diagnostics, the industry is facing a period of consolidation. The drive for new technologies is being countered by regulatory and financial issues.