ProciseDx Raises $13M in Convertible Note Financing
- ProciseDx, a San Diego CA-based in vitro diagnostics (IVD) company, raised $13M in convertible note financing
- Participants included existing major shareholders (Nestlé Heath Science, Biosynex SA) management and new investors
- The company intends to use the funds to move forward with FDA submissions for the platform and to expand the test menu for gastroenterologists
- The company provides a broad portfolio of rapid diagnostic tests for the physician’s office
- The company has submitted a 510k application to the FDA for its instrument and Procise CRP assay
- Further submissions for additional assays are expected in 2021 and will create a compelling menu for GI’s in the US
