Verax Biomedical, a Marlborough, Massachusetts-based developer of rapid tests for detecting bacterial contaminants in blood cells and tissue, completed a $12m financing.
The round was led by existing vc investors.
The company intends to use the funds to supports ongoing commercialization of Platelet PGD® Test for the detection of bacteria in platelets, accelerate the completion of and clinical studies for an improved version of its bacterial contamination test, and expand its research & development efforts.
Founded in 1999 and led by James Lousararian, Chief Executive Officer, Verax Biomedical has developed the Platelet PGD® Test, a rapid immunoassay that detects antigens present on the surface of bacteria. It is used at the point of care, usually a hospital transfusion service laboratory, within 24-hours of transfusion when bacteria, if present, will be at higher levels and easier to detect.
The test was cleared by U.S. regulators in 2007 for detecting bacterial contamination in leukoreduced apheresis platelets and in 2009 for use with whole-blood derived platelets. In 2011, the FDA cleared the test as a Safety Measure for leukoreduced apheresis platelets.
It has been adopted by over 100 hospitals in the U.S. and Europe, particularly those that specialize in treating cancer.