Genalyte to Use $44M Funding Round to Pursue FDA Clearance for Multiplexed Immunoassay Device

Aug 21, 2015

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NEW YORK (GenomeWeb) – Having recently closed a $44 million Series C financing round, biotech firm Genalyte aims to use the funds to develop its Maverick biosensor system for rapid, routine testing in doctors' offices.

The San Diego-based company is preparing a clinical study through which it will collect data it will use to submit the device to the US Food and Drug Administration for 510(k) clearance in 2016, Cary Gunn, Genalyte's founder, president, and CEO, told GenomeWeb.

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