NEW YORK (GenomeWeb News) – AdvanDx, a provider of molecular diagnostics for pathogen identification, said today that it has closed a $12 million Series B-1 financing round.
The financing will go toward expansion of the Woburn, Mass.-based company's product offerings and its sales and marketing operations in the US and abroad, it said.
Merck Global Health Innovation Fund led the round and was joined by existing investors SLS Ventures and LD Pensions.
AdvanDx CEO Dennis Langer said in a statement that as adoption of the firm's rapid diagnostics for identifying life-threatening bloodstream infections continues to ramp up, the $12 million financing "will enable us to expand our product portfolio in order to help hospitals improve patient outcomes and reduce overall healthcare costs."
In March the company submitted a 510(k) application with the US Food and Drug Administration for clearance of its mecA XpressFISH test for the rapid detection of methicillin-resistant Staphylococcus aureus from S. aureus-positive blood cultures. In the fall, AdvanDx received CE marking for its CandidaQuickFISH test for identifying yeast from positive blood cultures.
The company raised $8 million in 2009 and $15 million in 2007