NEW YORK ─ Molecular diagnostics firm Inflammatix on Tuesday announced the closing of a $102 million Series D financing to support the development and commercialization of its immune-response diagnostic tests.
D1 Capital Partners led the round and current investors, including Northpond Ventures, Khosla Ventures, Think.Health, and OSF Healthcare Ventures, also participated.
Diagnostic tests being developed by Burlingame, California-based Inflammatix rapidly read a patient's immune response to infections using the expression of multiple mRNA biomarkers and machine learning algorithms.
The company noted that its tests can identify the presence of an infection and whether the infection is viral or bacterial as well as the risk of severe disease, including severe COVID-19, to enable physicians to make more informed decisions.
Inflammatix said it is developing tests to run on its isothermal amplification-based, sample-to-answer, cartridge-based, point-of-care test system, called Myrna, which produces results in less than 30 minutes.
The company added that it will use funds from the Series D financing to obtain regulatory clearance and pursue global commercialization of the Myrna system and its InSep acute infection and sepsis test. It is developing InSep to enable improved triage and decision-making in the emergency department and other acute-care settings.
The Series D financing will further support the continued development of the company's test pipeline, including its ViraBac EZ acute infection test, which Inflammatix has designed to run from a fingerstick to identify whether a suspected infection is bacterial or viral, helping physicians in primary care, urgent care, and other outpatient clinical settings to determine when to prescribe antibiotics.
Last October, the company announced the US Department of Health and Human Services' Biomedical Advanced Research and Development Authority (BARDA) had awarded it $7.4 million to further develop a point-of-care test and system to diagnose infection by reading the immune system.