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Company News: Neonatal Diagnostics Company InfanDx Closesx Interim Financing Round
— Funding allows further advancement of lead product and achievement of key near-term milestones
InfanDx AG (Cologne, Germany), a privately held diagnostics company focusing on the development and commercialization of novel diagnostic solutions for newborns, today announced the closing of an interim financing round involving both existing and new investors. The proceeds from this funding round are expected to provide the financial runway to achieve certain value-creating near-term milestones in clinical biomarker research for the Company’s lead product, the HypoxE test®. Further details of the financing round were not disclosed.
“I would like to thank the investors of this round for their support and commitment to InfanDx,” said Dr. Achim Plum, CEO of InfanDx. “Between today and mid-2022, we are heading for several very significant milestones in the development of our HypoxE test® and the funding provided through this round will allow us to achieve some of the more near-term ones of these important value inflection points while evaluating the mid- to long-term funding strategy of the Company.”
“The combination of a highly unmet diagnostic need and the approach developed by InfanDx and its outstanding network of collaborators, which is dedicated to improve the lives of tens of thousands of children worldwide, convinced me to participate in this funding,” said Jochen Tschunke, a serial entrepreneur and first-time investor in InfanDx.
InfanDx´ HypoxE-test® is the Company’s proprietary lead product in clinical development. It is based on a panel of proprietary biomarkers and designed for the rapid and reliable diagnosis of perinatal asphyxia (oxygen deficit during birth) and early identification of resulting hypoxic-ischemic encephalopathy (HIE) within the first hours of birth. HIE can cause life-long disabilities in affected children. The long-term detrimental effects of HIE can be mitigated or even prevented by neuroprotective hypothermia treatment initiated within six hours of birth, provided that affected newborns can be reliably and timely identified by suitable diagnostic methods. These methods are unavailable at present.
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About InfanDx
InfanDx AG is a privately held company focusing on the development and commercialization of novel diagnostic solutions for newborns.
The Company’s proprietary lead product in clinical development is the InfanDx HypoxE-test® designed for the reliable identification of hypoxic-ischemic encephalopathy (HIE) within the first hours of birth. HIE as a consequence of perinatal asphyxia (oxygen deficit during birth) can result in life-long disabilities. The long-term detrimental effects of HIE can be mitigated and even prevented by neuroprotective hypothermia treatment. However, this burdensome therapy has to be initiated within six hours of birth to be effective, requiring suitable diagnostic methods to reliably and timely identify the affected newborns.
While standard-of-care diagnostic methods cannot deliver a conclusive diagnosis of HIE within this time frame, the rapid InfanDx HypoxE-test® is designed to support clinicians in the timely decision whether newborns require neuroprotective hypothermia treatment.
The Company was incorporated 2010 in Cologne, Germany, and incubated at the Life Science Incubator at the Center of Advanced European Studies and Research (caesar) in Bonn, Germany, and, following the successful start-up phase, in 2018 relocated to BioCampus Cologne.For more information, please visit: http://www.infandx.de/