Inflammatix, a California-based healthcare technology company specializing in molecular diagnostic tests for clinical and public health has secured $57 million in Series E funding round.
The company will use the new capital to support regulatory approval application and commercialization of its innovative rapid blood test for sepsis and acute infections.
Co-founded in 2016 by Timothy Sweeney, Ph.D, Purvesh Khatri, Ph.D, and Jonathan Romanowsky, the company’s rapid tests are designed to help resolve public health and clinical challenges.
The tests leverage machine learning (ML) algorithms to rapidly analyze immune responses and generate actionable results based on biomarkers licensed by Stanford University, enabling frontline healthcare professionals to effectively diagnose infectious diseases and sepsis quickly.
The series E financing round was spearheaded by Khosla Ventures and Think.Health, with contributions from D1 Capital Partners, Northpond Ventures, Iberis Capital, OSF Healthcare, RAW Ventures, and Vesalius BioCapital. The series E round boosted the company’s total capital raised from private equities to $200 million.
Revolutionizing Clinical Diagnosis
Inflammatix is developing novel approaches for earlier detection of acute viral, bacterial, and sepsis infections based on known biomarkers. The company’s flagship test system, TriVerity, received the FDA’s breakthrough designation last November for testing acute infections and sepsis, which measures gene expression levels related to immune response in the patient’s blood.
Using ML algorithms, the test system can provide results in about 30 minutes. It can also determine a patient’s illness severity and whether specialized treatment in the intensive care section is required.
By speeding up the diagnosis process, the system helps healthcare professionals to diagnose diseases faster, saving lives and improving hospital resource allocation and utilization.