nanoMR, Inc., an Albuquerque, NM-based early stage life sciences company developing novel diagnostic systems for rapid and sensitive identification of pathogens in whole blood and other samples, has raised $13m in equity financing.
The round was led by Excel Venture Management, with participation from Healthcare Ventures, and existing investors vSpring Capital, The Dow Chemical Company, and Sun Mountain Capital.
The company intends to use the capital to develop commercial instruments for the clinical microbiology market, perform clinical studies and prepare for product launch.
Led by CEO Victor Esch, nanoMR has developed a immunomagnetic technology that isolates pathogens directly from blood in under 30 minutes, enabling identification of infectious organisms using existing molecular diagnostic devices in under two hours.
In conjunction with the funding, Dr. Steven Gullans of Excel and Gus Lawlor of Healthcare Ventures will join the company’s board.