Inflammatix Raises $57M in Series E Financing

NEW YORK, Sep 12, 2024 — Molecular diagnostics firm Inflammatix said Thursday that it has raised $57 million in a Series E funding round.

The round was led by Khosla Ventures and Think.Health with participation from Northpond Ventures, D1 Capital Partners, Iberis Capital, Vesalius BioCapital, OSF Healthcare, and RAW Ventures, among others. The Sunnyvale, California-based firm said that it will use the funding to support regulatory filings and commercialization of its TriVerity Acute Infection and Sepsis Test, which is designed for use during triage of patients in emergency departments.

“The newly raised funds will help us to expand our commercial team and plan clinical interventional and health economic studies as we await FDA clearance over the coming months,” Inflammatix CEO Timothy Sweeney said in a statement.

Inflammatix secured in 2023  US Food and Drug Administration breakthrough device designation for the TriVerity test, which is a cartridge-based blood test for the differentiation of bacterial infections, viral infections, and noninfectious disease, with results in 30 minutes. It is also used to predict disease progression in adult patients who have suspected acute infections or sepsis.

The test cartridge and the company’s sample-to-answer Myrna instrument use quantitative real-time RT-LAMP and a machine learning-developed algorithm to analyze 29 mRNA biomarkers, measure a patient’s immune response, and generate scores for the likelihood that a patient has a bacterial infection, a viral infection, and a severe illness that will require interventions such as mechanical ventilation or renal replacement therapy within the subsequent seven days.

Inflammatix said on Thursday that it has raised more than $200 million in private capital as well as received more than $50 million in grants and contracts from government agencies and foundations. The company announced in 2021  that it had closed a $102 million Series D round.

Contact:

Guy Geldhof
g.geldhof@vesaliusbiocapital.com

David Cristina
d.cristina@vesaliusbiocapital.com