The Venture Codex

Participated · Series D · Jan 2017

Binx Health is a medical technology and diagnostic services provider. The company supplies testing, diagnostic and treatment services to clinics using its binx io testing instrument and a cartridge-based system. The binx io instrument and its cartridge are presented as the company’s core diagnostic products. According to the article, Binx Health recently completed a $65 million Series F financing. The reported financing round involved outside investors led by Hildred Capital with participation from EQT Life Sciences. binx health develops the binx io rapid molecular point-of-care testing platform, a CLIA‑waived solution that enables testing, diagnosis and treatment for chlamydia and gonorrhea during the same visit. The company supplies in‑clinic and at‑retail locations with its testing instrument and single‑use cartridges and is led by CEO Jeff Luber. It is expanding the platform into COVID‑19 testing by combining proprietary electrochemical detection with CRISPR methods. binx health plans to use recent funding to ramp manufacturing, scale its instrument and cartridges, expand sales in the U.S. and abroad, and further build out its proprietary software platform and data infrastructure. The company describes itself as a healthcare technology and diagnostics firm focused on rapid molecular point‑of‑care testing. Atlas Genetics is a Bath, England–based company that develops ultra-rapid point-of-care (POC) molecular diagnostic tests for infectious diseases. Its io® system is a molecular diagnostic platform built on a patent-protected electrochemical sensor technology. The system uses an integrated cartridge containing all reagents designed to accept an unprocessed clinical specimen; each cartridge can detect up to 24 different genetic targets. The company plans to use recent financing to support clinical trials and the commercial launch of a second test for detection of both Chlamydia and Gonorrhoea, targeting US regulatory approvals around the end of 2017. Atlas also intends to further develop its diagnostics menu and expand cartridge manufacturing capacity at Bespak. The company maintains a commercial office in Boston and is led by CEO Dr. John Clarkson. The firm reported closing a $35m Series D to fund these activities. Atlas Genetics develops the io(R) system, a novel point-of-care molecular diagnostic platform based on a patent‑protected electrochemical sensor technology that combines speed, accuracy and low manufacturing costs. The fully integrated cartridge contains all reagents, accepts an unprocessed clinical specimen and completes sample preparation, DNA amplification and electrochemical detection. Each cartridge can run up to 24 different tests from a single patient sample. The system is at an advanced stage of development and is expected to launch in Europe with a Chlamydia test later this year. The company plans to use the new funding to launch the io(R) system, initiate U.S. clinical trials and expand its test menu in STI and HAI markets. Atlas is led by CEO Dr John Clarkson. Atlas Genetics develops rapid decentralized and point-of-care (POC) molecular diagnostic tests for a range of infectious diseases, including sexually transmitted and hospital-acquired infections. Its Atlas io™ system is a patented electrochemical sensor–based molecular diagnostic platform that combines speed and accuracy while removing the need for costly optical components. The company is led by CEO Dr John Clarkson. Atlas intends to use the new funding to complete the transfer to manufacture of the Atlas io™ system and to file for European approval of its first Chlamydia test. The article reports a Series B financing, reflecting an active fundraising stage to support product commercialization and regulatory approval.