The company's Sight OLO analyser is designed to automate the identification and quantification of various blood cell types and anomalies
Israeli medical devices company Sight Diagnostics has received $71m in Series D financing round, participated by Koch Disruptive Technologies, Longliv Ventures and OurCrowd.
The funding round is aimed at supporting the company’s expansion of commercial operations and enhancing its research and development capabilities in automated detection of biomarkers indicating Covid-19 severity, along with other diseases, said the company.
The new investment brings the company’s total funding to more than $124m.
Sight Diagnostics CEO and co-founder Yossi Pollak said: “This new investment will enable Sight to substantially expand our U.S. footprint and help usher in a new era of AI-driven diagnostics for a myriad of diseases and health conditions.
“We’re glad to have Koch Disruptive Technologies, OurCrowd and other esteemed investors join us on our mission to improve health systems and patient outcomes through developing fast, accurate and less painful diagnostics.”
Sight Diagnostics offers Sight OLO analyser and Complete Blood Count (CBC) analyser
Established in 2011, Sight Diagnostics is engaged in developing blood testing devices, including its Sight OLO a direct-from-fingerstick Complete Blood Count (CBC) analyser.
The Sight OLO analyser is designed to automate the identification and quantification of various blood cell types and anomalies, and deliver lab-grade CBC results in minutes, based on 19 different blood parameters, from a fingerstick or a venous sample.
Sight OLO was FDA 510(k) approved for use in moderate complexity laboratories in the US, but has not been approved for point-of-care use. The device was granted CE Mark approval, as per the IVD European directive and approved by the Australian TGA for point of care settings.
The company has created a database of blood imagery to support its AI-driven method, optimise its current diagnostic algorithms and search for new algorithms to facilitate early detection of serious health conditions and blood factors that affect the severity of Covid-19.
Koch Disruptive Technologies president Chase Koch said: “We firmly believe that Sight’s method of using machine vision to analyze blood is a significant leap forward from the current alternative in healthcare.
“Not only is the company bringing truly innovative solutions to the blood diagnostics industry, it is also driving a vision to decentralize information and increase consumer access in healthcare markets across the world.”