NEW YORK – Inflammatix on Friday announced that it had raised $32 million in Series C financing to advance its rapid HostDx tests through commercial launch in Europe and submission for clearance to the US Food and Drug Administration in 2021.
The funding round included participation from existing investors Khosla Ventures, Northpond Ventures, and Think.Health Ventures, and new investors that included Grey Sky Venture Partners.
Inflammatix's HostDx Sepsis and HostDx Fever tests use proprietary machine learning algorithms that incorporate the expression of multiple immune genes to identify the presence of bacterial or viral infections and to determine if a patient has or is likely to develop sepsis. Its sample-to-answer HostDx system has been designed to produce results at or near the point of care in 30 minutes or less.
"In particular, our first tests will help tackle antibiotic resistance and sepsis, two critical public health challenges, by reading the patient's host-immune response to infection," Tim Sweeney, cofounder and CEO of Inflammatix, said in a statement. "With this financing in hand, we look forward to bringing our rapid HostDx tests into hospitals and clinics so that physicians can quickly get the right treatments to the right patients."
The Series C funding comes on the heels of the Burlingame, California-based firm inking a long-term, cost-sharing contract in November 2019 with the US Department of Health and Human Services Biomedical Advanced Research and Development Authority (BARDA), which was worth up to $72 million based on achieving certain milestones.