Genalyte develops the Maverick Detection Platform, a silicon chip with arrays of photonic microring sensors that the company says can run as many as 128 tests from a single finger-prick in under 15 minutes. The technology is already used commercially in the pharmaceutical industry, and Genalyte aims to move it into a near-patient/outpatient setting where clinicians can get rapid results onsite. The company has IRB permission to run clinical studies comparing its finger-prick tests to whole-blood methods and presented positive results at the American College of Rheumatology annual meeting. Genalyte says it has published findings in scientific journals and is pursuing a rigorous clinical-trial path to support regulatory approval. CEO Cary Gunn emphasizes avoiding the missteps of past industry players by prioritizing studies and data before broad consumer release. The company plans to use new funding to run additional clinical trials to prepare for potential FDA review. Genalyte is a San Diego-based life sciences company developing and commercializing next-generation multiplexing technology. It has developed the Maverick platform, which uses silicon photonics to directly measure protein binding between antibodies and antigens and to detect nucleic acid hybridization. The company plans to commercialize the Maverick system and its highly multiplexed panels for autoimmune and immunoassay applications. Genalyte completed an $11.8M Series B financing to fund commercialization. Backers include new investors Redmile Group and Claremont Creek Ventures, among others. Founded in 2007 and led by CEO and founder Cary Gunn, the company is preparing to launch the platform this summer, initially targeting the autoimmunity research and testing markets.

Total raised

$48M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2016