In vitro diagnostics manufacturer ProciseDx, San Diego, which recently received a CE mark for its ProciseDx instrument platform, plans to complete additional financing in the first quarter of 2020. The company will use the funds to develop and market near-patient, 2- to 5-minute tests to detect and monitor biomarkers for inflammatory and autoimmune diseases such as celiac disease, and metabolic syndromes such as diabetes.
ProciseDx was spun off from Prometheus Laboratories after its acquisition by Precision IBD in June 2019. ProciseDx is a wholly owned subsidiary of Nestlé Health Science. The company did not divulge the amount of funding it plans to procure.
“We have been working in stealth mode with Nestlé’s support for the last 3 years to develop this unique point-of-care diagnostic platform,” says Larry Mimms, CEO of ProciseDx. “We are very excited to have the opportunity to build a diagnostics company with revolutionary and disruptive technology and to launch this platform in Europe next year.”
ProciseDx is also conducting FDA clinical trials of the instrument platform and several assays, and plans to submit a premarket notification (510(k)) request during the first quarter of 2020, Mimms says.
For more information, visit Procise Diagnostics.