FluimediX, a point-of-care diagnostic company, announced today that it has received funding for the continued development of the NanoCycler™, a diagnostic platform for the measurement of relevant genetic mutations in patients. The proceeds of this financing round will be dedicated to developing a diagnostic test for Warfarin™ metabolism. The investment round was led by SEED Capital Denmark, a leading early stage investor managing more than € 200 million in total assets. Existing shareholders also participated in the financing. The size of the round was not disclosed.
Tomas Ussing, CEO and founder of FluimediX, commented: “We are extremely pleased that we have received additional financial support from our lead investor, which will enable the further development of our point-of-care diagnostic platform. Genetic testing with the NanoCycler™ may have a positive impact on patient diagnosis and treatment, and may deliver substantial cost savings in the long term. As a diagnostic platform, the NanoCycler™ offers a number of benefits. Firstly, it is comprised of low cost, well-established components. Secondly, the use of plastic disposables enables extremely competitive molecular diagnostic testing, and will thus bring this type of testing closer to the patient. Thirdly, the built-in broad versatility of the NanoCycler™ device will allow other tests to be transferred to or developed for the NanoCycler™ platform in the future.”
The use of a diagnostic test for Warfarin™ metabolism would deliver important clinical benefits and cost savings to the healthcare system. Approximately two million people start taking Warfarin™ each year in the U.S. Unfortunately, the optimal dose differs significantly due to patient-to-patient genetic variation in how quickly Warfarin™ is metabolized, and the medical consequences of under- or over-dosing the drug can be severe. Roughly one-third of the population carries a genetic mutation that results in slow metabolism of the drug, so the identification of those patients who have this mutation could help avoid the consequences of under- or over-dosing.
About the NanoCycler™ Platform
The NanoCycler is a point-of-care diagnostic platform that identifies the presence of genetic mutations, also called Single Nucleotide Polymorphisms (SNPs), that are relevant to specific medical conditions in order to aid proper diagnosis and treatment. This “tabletop” device is designed to accept a disposable polymer cartridge, on which a number of biochemical reactions are performed on a human saliva sample. The platform utilizes a medium-powered infrared laser diode, which is directed at microfluidic channels and reservoirs. This action instigates microfluidic flow control, thermocycling, cell lysis, mixing and fluorescence excitation, all of which are basic functions involved in performing complex biochemical analysis.
FluimediX was founded in 2003 to develop the NanoCycler™ platform, based on inventions made by Tomas Ussing, with SEED Capital Denmark as founding investor in the company. The company is located at The Danish Institute of Technology, where it has access to leading micro technology expertise and facilities. The company has filed several patents on key elements of the technologies behind the NanoCycler™ platform.