SpeeDx Pty. Ltd., a Sidney, Australia-based provider of molecular diagnostic solutions, closed a series A funding of undisclosed amount.
Backers included new investor Northpond Ventures, LP – a U.S.-based, formative stage venture capital fund with a science and technology driven portfolio. In conjunction with the funding, Northpond Ventures founder and CEO, Michael P. Rubin, M.D., Ph.D., joined the SpeeDx Board of Directors.
The company intends to use the funds to expand the offered test menu and prepare for the U.S. launch later in the year.
Founded in 2009 and led by Colin Denver, CEO, SpeeDx specializes in molecular diagnostic solutions that go beyond simple detection to offer comprehensive information for improved patient management. Product portfolios focus on multiplex diagnostics for sexually transmitted infection (STI), antibiotic resistance markers, and respiratory disease.
The flagship test from SpeeDx, ResistancePlus® MG – detecting the sexually transmitted infection (STI) Mycoplasma genitalium, also known as Mgen or MG, and genetic markers linked to macrolide antibiotic resistance – is currently in clinical trials in preparation for submission to the U.S. Federal Drug Administration (FDA) later this year.
Additional tests in the company’s portfolio include the recently CE-IVD and TGA registered ResistancePlus® GC – for detection of gonorrhoea infection and markers linked to susceptibility to ciprofloxacin.