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Rheonix Gets $12.6M in Series A Funding Round

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Rheonix, an Ithaca, NY-based molecular diagnostics startup, has raised $12.6 million in a Series A round of funding.

The firm said that it would use the proceeds to continue development of the Rheonix Chemistry and Reagent Device system, an end-to-end molecular diagnostics instrument that includes raw sample preparation, molecular amplification, and multiplex analysis. It said that the system enables end users to automate new or existing assays using single or multiple raw clinical samples.

"The Rheonix CARD system provides a simple solution for partners who seek to incorporate complex, high-throughput molecular diagnostics into their routine research and development efforts," Rheonix President and CEO Tony Eisenhut said in a statement. "With this funding, we will focus on scaling the Rheonix CARD system to demonstrate the full commercial potential of our platform."

The firm said that the disposable Rheonic CARD technology can be customized for immunoassay, pathogen identification, gene sequence detection, cell-based assays, and other molecular diagnostic applications.

The Series A funding was provided by a syndicate of regional and international firms, which was led by the Cayuga Venture Fund and Bill and Eric Allyn, said Rheonix.