Inflammatix, a molecular diagnostics company based in Sunnyvale, California, has recently secured $57 million in funding. This financial boost aims to support the regulatory filing and early commercialization of its innovative rapid blood test for diagnosing acute infections and sepsis. The announcement, made on Thursday, increases the company’s total private capital to over $200 million, alongside an additional $50 million received from government agencies and foundations in grants and contracts.
The technology behind Inflammatix’s advancements relies on biomarkers that have been exclusively licensed from Stanford University. These biomarkers are crucial for the early detection of acute bacterial and viral infections, as well as sepsis. The company’s flagship product, the TriVerity acute infection and sepsis test system, is at the forefront of this development. By measuring gene expression levels related to the immune response in the blood, the test uses machine learning algorithms to provide results within approximately 30 minutes. This rapid testing capability is especially critical for assessing the severity of a patient’s illness and determining the necessity of intensive care unit treatment.
Timothy Sweeney, CEO and co-founder of Inflammatix, emphasizes the potential impact of their technology on healthcare delivery. By enabling faster diagnoses, the TriVerity system could save lives and enhance hospital operations by ensuring compliance with sepsis detection and treatment protocols, and optimizing patient throughput.
In further recognition of its potential, the TriVerity system has received the FDA’s breakthrough device designation in November, which is aimed at expediting the clearance and Medicare coverage of medical devices. Following this designation, Inflammatix has recently submitted a regulatory packet to the FDA and anticipates clearance later in the year. The funds from the latest financing round will be instrumental in expanding the company’s commercial team and planning both clinical interventional studies and health economic studies while awaiting FDA clearance.
In addition to the TriVerity system, Inflammatix’s development pipeline includes diagnostic tests for various other medical conditions such as emerging infectious diseases, autoimmune diseases, tropical infections, and transplant rejection. The recent Series E financing round, which helped raise the $57 million, was led by Khosla Ventures and Think.Health, with additional participation from Northpond Ventures, D1 Capital Partners, Iberis Capital, Vesalius BioCapital, OSF Healthcare, and RAW Ventures.
This influx of funds and the consequent advancements in Inflammatix’s product offerings illustrate a significant stride in the field of molecular diagnostics, particularly in the management and treatment of infections and sepsis, which continue to pose significant challenges to healthcare systems worldwide.
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