Minnesota diagnostics company seeks $5 million

Minnesota diagnostics company Ativa Medical is seeking $5 million, according to a recent regulatory filing.

The company has already raised $275,000.

The company is developing a device that will function as a mini-lab and comprises arechargeable, portable analyzer and disposable test cards. The website claims that the system can produce lab-quality results in less than five minutes. The system is able to perform 25 of the most common blood tests and run assays using central laboratory methodologies.

In July, CEO David Deetz said the company had 30 employees with 20 openings to be filled in the next two months. An email to Deetz was not immediately returned.

The company’s board of directors include James Stake, a former 3M healthcare executive; Tiffany Olson, previously president and CEO of Roche Diagnostics; and Dale Wahlstrom, CEO of trade association LifeScience Alley and the BioBusiness Alliance of Minnesota.