NEW YORK – South Korean diagnostics developer Osang Healthcare (OHC) said this week that it has invested $2 million into US molecular diagnostics startup Kryptos Biotechnologies.
Hayward, California-based Kryptos has been developing a point-of-care qPCR platform, and company officials recently said that they plan to enter clinical trials this year for a multiplex assay for COVID-19, flu A/B, and respiratory syncytial virus.
OHC also led Kryptos' $10 million Series A financing round last year to support a clinical study of Kryptos' respiratory combination tests, which the firm plans to submit for US Food and Drug Administration approval. This week's additional $2 million in funding was paid for reaching undisclosed milestones.
Kryptos also announced last month that it had been awarded $1.2 million from the Research Investment for Global Health Technology (RIGHT) Foundation for the development of its POC testing system, dubbed Kuick, in collaboration with OHC. The companies are collaborating on the development of a 20-minute, CLIA-waived qPCR assay for the causes of chlamydia, gonorrhea, and trichomoniasis.
Kryptos has said that the Kuick system employs proprietary photothermal heating technologies that will offer advantages in clinics and emergency departments in comparison with competing systems.