Tag: Truenat

Business

Molbio Diagnostics Wins KOCHON Prize 2024 for TB Innovation

Tanisha Cardozo

Molbio Diagnostics, an innovative point-of-care diagnostics company, has been awarded the KOCHON Prize 2024 by the Stop TB Partnership, a hosted entity of the United Nations Office for Project Services (UNOPS).

This global recognition celebrates Molbio’s pioneering efforts in expanding access to the latest diagnostic tools and innovations for people affected by tuberculosis (TB), advancing progress toward the UN High-Level Meeting (UNHLM) targets. With this distinction, Molbio becomes the first private company globally—and only the third Indian entity after the Indian Council of Medical Research (ICMR) and Dr. L.S. Chauhan—to receive this honour.

The Kochon Prize, established by the Kochon Foundation in memory of its late chairman, Chong-Kun Lee, is the world’s largest award dedicated to tuberculosis. It recognizes individuals and organizations that have made outstanding contributions to the global fight against TB.

Molbio’s revolutionary Truenat platform, a portable, battery-operated, real-time PCR system, has transformed TB testing by decentralizing diagnostics. Its compact design allows reliable testing without laboratory infrastructure, ensuring accuracy even in remote and resource-limited settings. Beyond TB, Truenat has been adapted for detecting other infectious diseases such as hepatitis, COVID-19, and HPV.

Dr. Chandrashekhar Nair, Chief Technical Officer of Molbio Diagnostics, stated, “It is deeply fulfilling to see India’s indigenous innovation driving better health outcomes across the world. This recognition is a tribute to the unwavering dedication of our teams who have worked relentlessly to translate that vision into reality.”

Molbio’s Executive Director and CEO, Sriram Natarajan, expressed gratitude to the Government of India, ICMR, WHO, and the global TB community for their support and endorsement of the Truenat® platform. As a gesture of appreciation, Molbio is donating its prize money back to the Stop TB Partnership, reaffirming its commitment to strengthening TB programs worldwide.

Endorsed by the World Health Organization and the Indian Council of Medical Research, Truenat devices are now deployed in more than 80 countries, supporting over 10,000 installations globally.

With this recognition, Molbio continues to represent India’s leadership in global health innovation, using science, technology, and compassion to make healthcare more accessible and equitable for all.

Business

Molbio Diagnostics Files DRHP with SEBI: Plans ₹200 Crore Fresh Issue, Major Expansion Ahead

allycaralgoa

Molbio Diagnostics Limited, a Goa-based leader in point-of-care (POC) molecular diagnostics, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its much-anticipated Initial Public Offering (IPO).

The IPO will include a fresh issue of equity shares aggregating up to ₹200 crore and an Offer for Sale (OFS) of up to 1.25 crore equity shares by existing shareholders.

According to the DRHP, Molbio plans to utilize the net proceeds as follows:

  • ₹99.3 crore for infrastructure development including a state-of-the-art R&D facility, Center of Excellence, and office space.
  • ₹73.5 crore for purchase of plant, machinery, and equipment for its Goa and Visakhapatnam manufacturing units.
  • The remainder for general corporate purposes.

Molbio’s patented Truenat platform is recognized globally in over 100 countries as a breakthrough in rapid molecular diagnostics. Being portable and battery-operated, Truenat enables decentralized testing and provides results within an hour, making it crucial for diseases like tuberculosis, COVID-19, HIV, HPV, and Hepatitis B & C.

  • Incorporated in 2000, Molbio operates five manufacturing facilities across India — two in Goa, one in Visakhapatnam, and two in Bengaluru.
  • The Machohalli (Bengaluru) unit, operated by its subsidiary Prognosys Medical Systems, manufactures radiology products including ultraportable X-rays and C-arm systems.
  • As of March 31, 2025, the company’s annual installed capacity was 3,600 devices and 3.9 crore test kits.

In FY25, Molbio Diagnostics reported:

  • Revenue from operations: ₹1,020 crore (22% YoY growth)
  • Profit After Tax: ₹138.5 crore

The company’s promoters include Sriram Natarajan, Chandrasekhar Bhaskaran Nair, Sangeetha Sriram, Shiva Sriram, Sowmya Sriram, and Exxora Trading LLP.

The book-running lead managers for the IPO are Kotak Mahindra Capital Company, IIFL Capital Services, Jefferies India, and Motilal Oswal Investment Advisors.

With robust financials, a globally recognized platform, and plans for significant expansion, Molbio Diagnostics’ IPO is poised to be a landmark event in India’s healthcare and diagnostics sector.

Health

Molbio Diagnostics Empowers Philippines to Fast-Track TB Elimination with Truenat and Ultra-Portable X-ray Tech

Tanisha Cardozo

Tuberculosis (TB) continues to be one of the Philippines’ most pressing public health challenges, with nearly 190,000 cases going undetected each year. In a transformative move aligned with the UN goal to treat 2.1 million TB cases by 2027, the Philippines Department of Health has embraced Indian innovation to revolutionize its TB response.

At the forefront is the Truenat® platform, a WHO-endorsed, ICMR-approved molecular diagnostic solution developed by Goa-based Molbio Diagnostics. Designed for portability, accuracy, and speed, the Truenat® system supports rapid testing not just for TB, but for a wide array of infectious diseases, including HIV, HPV, and Hepatitis B & C.

Currently, 68 Truenat® devices are operational across the Philippines. A pilot on Bantayan Island yielded a staggering 1008% increase in TB detection — a powerful testament to the platform’s impact.

Geographic barriers, under-resourced labs, and limited rural access have long hindered TB diagnosis in the Philippines. Truenat®, alongside the newly approved PRORAD Atlas Ultraportable X-ray system, now makes it possible to deliver end-to-end screening, diagnosis, and treatment — even in the most isolated communities.

During an official visit to Molbio’s facility in India, Philippines Health Secretary Dr. Teodoro J Herbosa commended the partnership, calling it a “beacon of innovation” and highlighting the broader strategic alliance between the two nations. “Truenat® allows for swift and accurate TB screenings, enhancing our capacity to manage and eventually eliminate TB within our borders,” he said.

This healthcare collaboration reflects a growing Indo-Philippine partnership that now exceeds $3 billion in trade, spanning pharmaceuticals, medical technology, and beyond.

Molbio Diagnostics will further its engagement with the Philippines by hosting a panel at the 31st Philippine Coalition Against Tuberculosis (PhilCAT) Annual Convention in Manila on August 14–15, 2025.

The company’s broader mission continues through projects like a multi-country R2D2 TB Network study exploring tongue-swab molecular testing — a game-changer for TB detection among children and people with HIV/AIDS.

“By bringing diagnostics to the doorstep of underserved communities, we aim to close the TB care gap and help countries build stronger, more resilient health systems,” said Shiva Sriram, President of Molbio Diagnostics.