Response BioMedical Corp.

Response BioMedical Corp. develops rapid, quantitative point-of-care testing solutions for critical health diagnostics. The company's flagship product, RAMP 200, enhances the efficiency and accuracy of medical testing in various healthcare settings. Response BioMedical Corp.

is focused on creating innovative diagnostic solutions. The company has maintained its operations in Vancouver, Canada, where it was founded. Barb Kinnaird serves as CEO. In June 2016, OrbiMed Advisors and Shanghai Runda Medical Technology Co.

,Ltd. acquired Response BioMedical Corp. for CAD 1. 3 million, marking a strategic move to enhance its market position.

The company has executed a total of 7 deals, with the latest funding round occurring on June 16, 2016. The total amount raised by the company stands at CAD 1. 3 million, coinciding with its most recent funding activity. Response Biomedical specializes in delivering rapid, quantitative point-of-care testing solutions, primarily through its RAMP 200 platform.

This system allows for simultaneous testing of biomarkers crucial for cardiovascular diagnostics, including Troponin I and NT-proBNP. Additionally, it tests D-Dimer and Myoglobin for other medical assessments, providing lab-quality results swiftly. The RAMP 200 is designed for user-friendliness, with self-calibration and quick turnaround times, improving clinical workflows. The company caters to hospitals, emergency care facilities, and laboratories across North America, Europe, and Asia, addressing urgent diagnostic needs.

In 2016, Response Biomedical reported revenue of CAD 10,659,600 and an EBITDA of CAD 982,800. Revenue is generated through direct sales of RAMP testing systems and consumables to healthcare institutions and laboratories, relying on both one-time equipment sales and recurring revenue from consumable kits critical for the operation of the RAMP systems. The company is focused on ongoing development of new products designed to enhance its testing capabilities. Following the acquisition in November 2016, Response BioMedical intends to leverage the CAD 1.

3 million investment to expand into new markets, with targeted efforts in regions such as Europe and Asia by the end of 2018. These initiatives are expected to include the launch of additional testing products to meet diverse healthcare needs.