binx health, a Boston, MA-based healthcare technology and diagnostics company, closed a Series E financing of $104m.
The round was led by OrbiMed, with participation from new investors Arrowmark Partners, Hildred Capital Management, Alta Life Sciences and Parian Global, and existing investors LSP and Johnson and Johnson Development Corporation, among others. In connection with the financing, Andrew Goldman, Co-founder and Managing Partner of Hildred Capital Management, will join binx health’s Board of Directors.
The company intends to use the funds to expand its business reach, ramp manufacturing, scale its proprietary binx io testing instrument and cartridges, expand its sales efforts in the U.S. and abroad, and further build out its proprietary software platform and data infrastructure.
Led by Jeff Luber, Chief Executive Officer, binx health provides in-clinic/at-retail locations with the binx io rapid molecular point of care platform that offers onsite convenience in a CLIA–waived solution for chlamydia and gonorrhea that can provide testing, diagnosis and treatment in the same visit.
The company is currently expanding its platform into COVID-19 testing by combining proprietary electrochemical detection with CRISPR methods.