Biotech firm Senzo simply raised a $2 million spherical at a $20 million pre-money valuation to additional prolong choices for lateral circulation diagnostics. “Lateral circulation,” on this case, is identical kind of testing you’ve seen from at-home being pregnant or COVID-19 assessments.
The corporate is making a product it calls Amplified Lateral Stream (ALF). For starters, it’s hoping to carry a COVID-19 at-home speedy take a look at by regulatory approval after which to market, however the firm has a plethora of different assessments up its proverbial sleeves.
The innovation is within the “amplified” a part of the ALF — the corporate not too long ago introduced promising outcomes from a third-party research demonstrating that its ALF COVID-19 antigen take a look at was 100% correct in concordance with PCR testing, even in circumstances with very low viral masses. That’s the place different at-home lateral circulation assessments typically come up quick and (a part of) the rationale why we do PCR testing within the first place. The upshot is that the ALF tech permits higher and earlier detection of viruses.
“Our imaginative and prescient at Senzo is evident: to make the analysis of illness as quick, easy, cheap, and correct as taking a temperature or blood strain studying,” Jeremy Stackawitz, CEO of Senzo instructed TechCrunch in a press release. “The COVID-19 pandemic has demonstrated the potential for correct point-of-care diagnostics. Our ALF know-how converts that potential to actuality in myriad functions the place extra and earlier analysis leads to higher affected person outcomes and extra well timed and cost-effective affected person care.”
Senzo can also be engaged on lateral circulation assessments for at-home {and professional} use for different functions. The corporate means that all kinds of infections — together with influenza, HIV, tuberculosis, strep, hepatitis C, sexually transmitted infections and lots of viruses — could possibly be candidates for at-home assessments. These illnesses are normally identified in central laboratories, with the associated fee and time implications thereof.
The corporate not too long ago introduced the $2 million fairness funding spherical led by BioAdvance. Wellness Coaches additionally participated within the spherical. The corporate tells me it raised at a $20 million pre-money valuation and factors out that that was an enormous step up from its Q1 2021 fundraising valuation. The corporate views the spherical as being pre-seed, suggesting it should increase a bigger Sequence A in early 2023.
