Friday, September 17, 2021

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ProciseDx: Raises $13M in Convertible Note Financing

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
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