Skip to main content
Premium Trial:

Request an Annual Quote

PathogenDx Lands $7.5M in Series B Funding

NEW YORK – PathogenDx, which provides DNA-based pathogen testing for the cannabis, hemp, agriculture, and food safety industries, said today that it has raised $7.5 million in a Series B funding round.

The investment round was led by Cresco Capital Partners with participation from Altitude Investment Management, Arcadian Investment Partners, Panther Opportunity Fund, Salveo Capital, Flatiron Venture Partners, and other investors.

Scottsdale, Arizona-based PathogenDx said it will use the funds to continue expanding its technology into food and agriculture testing while continuing to build its client roster in the cannabis industry. The company added that it is proactively obtaining federal approval of its technology by the AOAC for food and environmental testing applications by the first half of 2020.

Using a proprietary technology that combines PCR with microarray detection, PathogenDx is one of several entities looking to capitalize on the booming cannabis market by offering fast and accurate molecular testing for pathogens.

"PathogenDx has pioneered one of the most precise and cutting-edge pathogen testing technologies on the market," PathogenDx CEO Milan Patel said in a statement. "This investment is a critical vote of confidence by industry leaders that our technology can and will make a significant impact across all pathogen testing industries. Our goal for the next year is to expand our DNA processing so other industries have access to affordable and reliable pathogen test results to improve product safety and protect consumer health."