Led · Series B · Aug 2018

LightDeck Diagnostics, based in Boulder, produces machines that scan patient samples to detect health-related signals such as COVID-19 antibodies, cardiac arrest markers, sepsis markers and other toxins. The company’s core product is diagnostic scanning equipment intended for rapid detection across multiple conditions. According to an SEC disclosure, LightDeck raised an additional $9.9 million by selling a combination of equity and future warrants. The disclosure was reported by Mbio Diagnostics Inc., one of the two diagnostics companies that combined last summer. The company has previously raised roughly $45.75 million in venture-capital funds, per earlier SEC filings. It is unclear from the article how the newly raised funds will be used, and the company did not respond to a request for comment. LightDeck Diagnostics develops a proprietary analyzer and planar waveguide cartridges that mix patient samples with reagent pellets and fluorescent markers to rapidly detect specific molecules. After sample introduction the system moves the mixture across printed molecular spots on the waveguide; fluorescent signal amplitude is read by instrument software to produce results. The company reports its analyzer detects SARS-CoV-2 antibodies with 97.9% sensitivity and 99.6% specificity. LightDeck holds 30 patents on the underlying technology, which was developed at the University of Utah and the Naval Research Laboratory and commercialized via Precision Photonics and mBio. The company was formed earlier this year through a merger of mBio and Brava Diagnostics and is scaling its test menu beyond COVID-19 to heart disease and sepsis. It is already shipping thyroid and hormone tests in the veterinary market and has received multiple grants to expand water-quality testing. MBio Diagnostics builds the MBio Array System, a portable multiplex reader that produces lab-quality results in 1–20 minutes via low-cost, disposable load-and-go cartridges. The system uses patented LightDeck® planar waveguide and fluorescent detection to eliminate sample prep and can be configured to detect proteins, cells, nucleic acids and small molecules. The platform is positioned for broad applications across medical, veterinary, food safety and environmental monitoring, and MBio highlights recently launched water quality tests. MBio emphasizes low-cost injection-molded consumables, high reproducibility, and scalability to large-volume manufacturing. The company says it is working with commercialization partners, including a strategic veterinary partner, Heska, to drive growth. MBio announced an additional $6 million in Series B financing to support platform refinement and manufacturing scale-up. MBio Diagnostics develops rapid, portable on-the-spot diagnostic and sample-testing systems, notably the MBio Array System and disposable cartridges. Its Array System and proprietary LightDeck® technology enable simple, multiplex laboratory-quality cyanotoxin and other toxin testing to be performed in the field, delivering panel results in minutes. The company positions the platform for applications across drinking-water protection, commercial food-resource monitoring, and ecosystem management, and cites broader target markets including medical, veterinary, environmental, food, agricultural, and military testing services. MBio has worked with domestic and international collaborators and published multiple validation studies in the scientific literature. The NSF grant announced in July 2016 is intended to advance development and commercialization of MBio's water toxin testing platform. MBio is headquartered in Boulder, Colorado. MBio Diagnostics develops the MBio Array System, a portable, multiplex reader that delivers lab-quality results in 1 to 20 minutes using disposable load-and-go cartridges. The cartridges detect multiple analytes, including proteins, cells, nucleic acids, and small molecules. Led by CEO Chris Myatt, the company focuses on bringing lab-quality testing into a portable format. MBio closed a $6.3M Series B to advance its technology and commercial plans. The company intends to use the proceeds to refine the platform, improve manufacturing, and execute a partnering strategy to commercialize the technology.