Magnolia Medical develops, manufactures, and markets blood and bodily fluid collection devices designed to improve the accuracy, consistency, and predictability of critical laboratory tests. The company invented and patented the Initial Specimen Diversion Technique (ISDT™) and Device (ISDD®) for blood culture collection and contamination prevention. It has amassed an intellectual property portfolio with more than 100 issued method, apparatus, and design patents and over 70 patent applications pending. Led by CEO Greg Bullington, Magnolia Medical is FDA-cleared and intends to use new funding to fast-track innovations leveraging its IP to advance its mission to eliminate the misdiagnosis of sepsi. The company sells a device platform and continues to focus on reducing contamination and improving laboratory diagnostic reliability. Magnolia Medical Technologies, led by CEO Greg Bullington, develops, manufactures and markets innovative blood and bodily fluid collection and contamination-prevention devices for clinical laboratories. Its Steripath® Gen2 Initial Specimen Diversion Device® (ISDD®) has been adopted in hospitals across the U.S. to address blood culture contamination. The Steripath product is used to help eliminate blood culture contamination, reducing false positive diagnostic results for sepsis and inappropriate antibiotic use. Magnolia plans to develop and commercialize additional products that improve the accuracy and consistency of other important IVD tests, leveraging an extensive intellectual property portfolio built over the past decade. The company intends to use the Series C proceeds to scale market initiatives and advance its portfolio of blood and bodily fluid collection and contamination-prevention devices. Magnolia Medical is based in Seattle, WA. Magnolia Medical Technologies' core product is the SteriPath blood collection system, the only commercially available device described in the article as designed to eradicate false positive blood cultures. The company says SteriPath has reduced false positive results by an average of 93 percent in real‑world clinical environments across IDNs, managed care organizations and government hospitals. Magnolia develops a roadmap of additional devices intended to mechanically eliminate human errors that cause erroneous IVD results, improving patient safety and reducing hospital costs. The company emphasizes clinical and economic benefits, including reduced unnecessary antibiotic use and shorter patient stays. Proceeds from the recent financing will be used to accelerate SteriPath commercialization and support ongoing product development.

Total raised

$80M

Funding rounds

3

Latest round

Equity

Latest activity

Feb 2022