NOWDiagnostics of Springdale has taken seven of its products to the European market and attracted $64 million in investment since it was founded in 2014 by Chairman Jeremy Wilson.
The company uses technology — a microfluidic device developed by Dr. Qinwei Shi — to make the tests it sells to medical professionals and over the counter to patients. Shi is NOWDiagnostics’ executive vice president and director of research and development.
The device, CEO Kevin Clark said, separates plasma from cells and then tests that plasma. “We’re using less than a drop of blood and getting laboratory-quality results” in minutes, he said.
Currently, NowDiagnostics sells pregnancy tests to professionals in the United States and over the counter in Europe. It also sells three cardiac (heart attack) tests and three toxicology tests to professionals in Europe.
In addition, three new products — tests for herpes, syphillis and strep throat — are in clinical trials, which are required for FDA approval.
Clark said the pregnancy test is the first for which the company has gained FDA approval. It can tell a woman that she’s pregnant within 36-48 hours of implantation, which is very early, he said.
The company’s two product lines are ADEXUSDx (for professionals) and FIRST TO KNOW (its OTC brand).
Getting FDA approval for its tests is NOWDiagnostics’ greatest challenge, Clark said.
However, his past experience includes shepherding more than 100 products through the FDA approval process. He’s also not new to the diagnostic testing field.
As CEO, Clark facilitated the sale of controlling interest of IVAX Diagnostics Inc. (now known as ERBA Diagnostics Inc.) to TransAsia Bio-Medicals, the largest diagnostics company in India.
He joined NOWDiagnostics because, he said, “I feel like we can change the world, make a real difference.”
The company’s plan is to develop more tests, for sexually transmitted diseases, food intolerances, common infectious diseases and more.
Asked about the company’s ability to acquire the talent it will need to accomplish that, Clark said NOWDiagnostics has access to the “cream of the crop”: students graduating from the University of Arkansas with biomedical engineering, molecular biology and chemical engineering degrees.
In Arkansas, the company has 30 employees. It has another nine in Los Angeles, six in Toronto and two in Italy, for a total workforce of 47.
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