The funds will support the firm in securing regulatory clearance for Myrna system and the InSep acute infection and sepsis test
Molecular diagnostics company Inflammatix has secured $102m in series D financing to advance the development and commercialisation of its novel immune response diagnostics portfolio.
Led by D1 Capital Partners, the funding round saw the participation of its existing investors such as Northpond Ventures, Khosla Ventures, Think.Health and OSF Healthcare Ventures.
Inflammatix CEO and co-founder Dr Tim Sweeney said: “We are thrilled to welcome D1 Capital Partners to our strong investor syndicate, and look forward to bringing host response diagnostics to market.
“By quickly providing actionable information about disease, Inflammatix expects to equip physicians to make better clinical decisions that benefit both patients and healthcare systems.”
According to the company, sepsis resulted in over five million deaths per annum across the world before the Covid-19 pandemic and severe Covid-19 has been recognised as viral sepsis
Using machine learning algorithms, Inflammatix’s diagnostics interpret the patient’s immune response to infections across multiple mRNA biomarkers.
The tests offered by the company hold the potential to detect the presence and type of infection, as well as the risk of severe disease including severe Covid-19.
Inflammatix’s sample-to-answer, cartridge-based and point-of-care Myrna test system will be used to run the tests. The system has the capacity to deliver results within 30 minutes.
The company will use the funds to support regulatory clearance and global commercialisation of the Myrna system, as well as the InSep acute infection and sepsis test.
The InSep test has been designed to improve triage and decision-making in the emergency department and other acute care settings.
Inflammatix will also use the funds to support the continued development of its diagnostic portfolio, including the ViraBac EZ acute infection test.
A simple fingerstick will be used by the Virabac EZ test to detect whether a suspected infection is bacterial or viral, thereby allowing physicians in primary care, urgent care, and other outpatient clinical settings to determine when to prescribe antibiotics.