AdvanDx, Inc., a Woburn, MA-based developer of molecular diagnostic tests, closed a $12m Series B-1 financing.
The round was led by Merck Global Health Innovation Fund (Merck GHI) with participation from existing investors SLS Ventures AB and LD Pensions.
The company intends to use the funds for the expansion of its molecular diagnostic product offerings, as well as for its sales and marketing efforts in the U.S. and internationally.
Led by Dennis Langer, M.D., CEO, AdvanDx provides rapid and accurate molecular diagnostic tests for the identification of pathogens that cause critical infections in hospitalized patients.
This new funding round followed the company’s FDA 510(k) submission for mecA XpressFISH™, a novel method for the rapid detection of Methicillin-Resistant Staphylococcus aureus (MRSA) from positive blood cultures. In addition, it recently received CE Mark approval for its Candida QuickFISH, a 20-minute test for the identification of yeast from positive blood cultures.
FinSMEs
09/04/2014