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The company said it will use the financing to support the commercialization of its automated biological testing platform for academic and clinical research.
The firm reported $14.9 million in revenue, driven by an 80 percent increase in product revenues, beating Wall Street expectations.
The test is the first offered for the Sgx Clarity system, a fully automated in vitro diagnostic platform leveraging single-molecule counting technology.
Singulex plans to use the investment to continue to develop its single-molecule counting technology.
The Merck KGaA subsidiary is launching the research-use only SMCxPRO later this year for protein detection using sandwich ELISAs paired with proprietary optical readout.
The firm also plans to list its cardiac troponin I assay as CE marked and plans to submit data to the FDA for clearance of its Clarity system and assay in 2018.
Singulex's CEO provided an update at the JP Morgan Healthcare conference on the firm's progress in developing its immunodiagnostics platform.
The results could have implications for the future adoption by cardiologists of high-sensitivity troponin assays currently being developed by biotech firms like Singulex and Nanosphere.
The US Food and Drug Administration is to announce stricter standards for emergency authorizations of SARS-CoV-2 vaccines, reports the Washington Post.
The Associated Press reports Johnson & Johnson is starting a late-stage clinical trial of its candidate SARS-CoV-2 vaccine.
Bloomberg reports the budget of Operation Warp Speed is actually $18 billion, higher than the number typically cited.
In Genome Research this week: genomic analysis reveals role of super-spreaders in SARS-CoV-2, epigenetic drivers of cancer, and more.