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Biosensor Startup Monod Bio Raises $25M

NEW YORK — Biosensor firm Monod Bio said on Monday that it has raised $25 million in a seed financing round.

The round was led by Matrix Capital and included Global Health Investment Corporation, Cercano Management, the Washington Research Foundation, Boom Capital Ventures, Sahsen Ventures, and Pack Ventures.

Monod is developing a biosensor platform that combines binding, transduction, and amplification in a single step to enable the detection of a variety of molecules including biomarkers, viruses, and toxins. The Seattle-based firm, which was spun out of the University of Washington's Institute for Protein Design in 2021, said it has created biosensors for the SARS-CoV-2 spike protein, SARS-CoV-2 neutralizing antibodies, cancer receptors, and cardiac troponin.

Monod said it will use the new funding to advance its LucCage platform for the rapid development of one-step biosensors and reporter proteins to detect targets for applications in biotechnology and medicine.

"We know these new biosensors can readily detect virus proteins or antibodies in simulated nasal fluid or donated serum," Monod Cofounder David Baker said in a statement. "Our next goal is to ensure they can be used reliably in a diagnostic setting."