First Light Diagnostics Inc., a Chelmsford, Mass.-based developer of automated products for rapid, sensitive and cost-effective diagnosis and treatment of life-threatening, antibiotic-resistant infections, closed a $4.5m debt financing.
This includes a Lease Line with CSC Leasing of Virginia that will be used to acquire equipment and infrastructure to support development and pilot manufacturing. In addition, the company has secured a debt financing facility with MassDevelopment to support the company’s working capital requirements.
Led by David Macdonald, CEO, First Light Diagnostics is developing and preparing to commercialize innovative diagnostic products for rapid, sensitive and cost-saving detection of life-threatening infections and combating the spread of antibiotic resistance.
Based on its proprietary MultiPath™ detection technology, the company’s products combine the clinical performance of advanced commercial laboratory tests. The tests rapidly detect infections, identify infectious agents and determine effective targeted antibiotic therapy.
Don Straus is the company’s founder and primary inventor of the company’s core scientific technology.