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LeukoDx Closes $1.6M Financing Tranche, Inks Agreements for up to $8M

NEW YORK (GenomeWeb News) – Flow cytometry technology firm LeukoDx today announced it has secured commitments of up to $8 million in investments during the next three years.

The funding is expected to bring the company's development of its point-of-care platform to the point of registration, it said.

LeukoDx has closed the initial $1.6 million tranche of the funding. Investors included an unnamed US private equity group, a European life science investor, and historical investors. The remainder of the investment will depend on certain milestones being reached, which the company said it expects to happen within the next two years.

Based in Towson, Md., and Jerusalem, LeukoDx is developing a platform for delivering flow cytometry in vitro diagnostic results in 10 minutes from a drop a blood on an automated disposable cartridge, its President and CEO, Julien Meissonnier, said. The platform potentially could expand the use of cell-based IVD tests, Meissonnier added.

As part of a planned clinical menu for measuring white blood cell activity, the company is developing an assay for CD64 neutrophil activation under a licensing deal with Trillium Diagnostics, LeukoDx said. The assay would allow for rapid clinical diagnosis in numerous patient settings, including neonatal and intensive care units, emergency departments, and remote locations without access to diagnostic medical laboratories, it added.

LeukoDx also is seeking to partner with biotechnology and IVD companies to expand the menu for its platform.

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