First Light Diagnostics Closes $8.25 Million Series A-2 Financing
CHELMSFORD, Mass., January 16, 2019 (Newswire.com) - First Light Diagnostics, a developer of breakthrough automated products for rapid, sensitive, and cost-effective diagnosis of life-threatening, antibiotic-resistant infections, today announced it has closed an oversubscribed $8.25 million Series A-2 financing.
The financing includes new investment partners from Think.Health Ventures, 10x Group, and Beacon Angels, along with numerous new individual investors and continued participation from current shareholders, such as; LRV Health and Life Science Angels.
“We are excited to have reached this financing milestone,” said David Macdonald, CEO of First Light Diagnostics. “The additional capital and strengthening of our investor syndicate will augment our government grants and contracts and allows our team of industry experts to focus on execution of our commercial plans.”
The new funding will be used to continue development of the MultiPath™ technology to rapidly detect hospital infections and determine their susceptibility to specific antibiotics. This includes preparation and support for product commercialization and launch in early 2020.
“First Light Diagnostics has developed a compelling solution to address hospital-acquired infections and antibiotic resistance,” said Florian Kainzinger of Think.Health Ventures. “The company’s unique application of technology and domain expertise with this challenging problem creates an exciting opportunity. We are pleased to partner with First Light as they move to the next phase of their development and commercial product launch.”
About First Light Diagnostics
First Light Diagnostics is developing and preparing to commercialize, innovative diagnostic products for rapid, sensitive and cost-saving detection of life-threatening infections, and combating the spread of antibiotic resistance. Don Straus is the company’s Founder and primary inventor of the company’s core scientific technology. Based on its proprietary MultiPath™ detection technology, First Light’s products combine the clinical performance of the most advanced commercial laboratory tests with speed, cost-effectiveness, and ease-of-use. The tests rapidly detect infections, identify infectious agents, and determine effective targeted antibiotic therapy. This will improve patient outcomes, reduce healthcare costs, and prevent inappropriate use of powerful antibiotics. To learn more, please visit: www.firstlightdx.com
David Macdonald
President and CEO
First Light Diagnostics
dmacdonald@firstlightdx.com
Mobile: (858) 997-9641
Source: First Light Diagnostics
