TAI Diagnostics, Inc., a Milwaukee, WI-based developer of innovative diagnostic tests for monitoring the health of transplanted organs, closed a $10m Series A equity financing.
The company, which has now raised over $21m since its inception, intends to use the funds for on-going research and development of its innovative cell-free DNA (cfDNA) transplant monitoring technology, clinical studies, and the upcoming commercial launch of its post-transplant monitoring assays performed by its CLIA and CAP accredited reference laboratory.
Founded in 2015 and led by Frank Langley, CEO, TAI Diagnostics develops and commercializes cfDNA technology licensed from the Medical College of Wisconsin for monitoring the health of transplanted organs. Dr. Michael Mitchell, a Pediatric Cardiothoracic Surgeon at the Herma Heart Institute of Children’s Hospital of Wisconsin, and Dr. Aoy Tomita-Mitchell, a Professor and researcher at the Medical College of Wisconsin, are inventors of the technology and founders of TAI Diagnostics.
The TAI test is performed with a small blood sample and is a direct measurement of organ injury through identification and quantification of donor specific cfDNA which is released from injured cells in the patient’s blood.
The company has also entered into a Collaboration Agreement with United Therapeutics Corporation, which was also an investor in TAI Diagnostics in this recent financing.