Participated · Convertible Note · Jul 2021

ProciseDx develops rapid in vitro diagnostic tests and an instrument that delivers results from a finger‑prick blood sample or stool sample in 2–5 minutes. The company has obtained CE Mark for its instrument and four gastroenterology assays launched in Q3 2020 and has established distribution relationships in more than 15 countries across EMEA. Over 100 instruments have been shipped to EMEA, and the company expects continued market expansion through 2021. ProciseDx has submitted a 510(k) application to the FDA for its instrument and its Procise CRP assay, with further assay submissions expected in 2021. Management is led by CEO and CSO Dr. Larry Mimms and President and CFO Peter Westlake. The company expects revenues of $2–3 million for 2021. ProciseDx develops and commercializes a point-of-care (POC) diagnostic platform with tests that use finger‑prick blood or stool samples. Its initial test menu targets gastroenterologists with inflammatory and drug‑monitoring assays. The company plans to use the Series A proceeds to continue development and commercialization of its POC platform and tests. Led by CEO and CSO Larry Mimms, ProciseDx operates from a 30,000 sq. ft. laboratory, manufacturing and office facility and employs 25 people. The company is ISO13485 certified. Nestlé Health Science remains an active supporter and significant minority shareholder.