TAI Diagnostics, Inc., a Milwaukee-based company focused on developing innovative diagnostic tests for monitoring the health of transplanted organs, closed an $8.2m Series A financing.
Backers included Venture Investors and other private investors.
The company intends to use the funds for the on-going development of transplant monitoring technology, including additional research and development, clinical studies, and the establishment of a reference lab for the offering of its post-transplant monitoring assays.
Founded in 2015 by Dr. Michael Mitchell, a Harvard University trained Pediatric Cardiothoracic Surgeon at Children’s Hospital of Wisconsin and Dr. Aoy Tomita-Mitchell, an MIT educated Associate Professor and Research Scientist at the Medical College of Wisconsin, TAI Diagnostics develops and commercializes patented cell-free DNA technology licensed from the Medical College of Wisconsin acting through its Office of Technology Development, for monitoring transplanted solid organs.
Although the company’s cfDNA technology will be further developed for monitoring of other transplanted organs, the initial focus is on monitoring heart transplant patients.
In conjunction with the financing, Frank Langley joined the company as Chief Executive Officer.