NEW YORK (GenomeWeb) – OpGen has raised about $1.1 million toward a targeted $1.5 million financing round, the firm disclosed in a regulatory document recently.
A spokesperson for the Gaithersburg, Md.-based microbial genetics analysis firm said that the initial funds are part of a Series B financing round that OpGen expects to close in the fall. It will use the money to commercialize the Acuitas MDRO Gene Test, a molecular test for identifying patients at risk of harboring antibiotic-resistant disease-causing microbes.
According to OpGen, the test can detect as many as seven genes from one patient sample within 24 hours, compared to as many as four days with current microbe detection methods based on cell culturing.
Participants in the financing included all current investors in OpGen, the spokesperson said. She declined to provide further details, but investors in a $17 million financing round completed two years ago included Harris & Harris Group; Cross Creek Capital, an affiliate of Wasatch Advisors; Highland Capital Partners; Versant Ventures; jVen Capital; and CHL Medical Partners.