CHELMSFORD, Mass. /PRNewswire/ -- First Light Diagnostics, a developer of breakthrough automated products for rapid, sensitive, and cost-effective diagnosis of life-threatening, antibiotic-resistant infections, today announced it has closed an oversubscribed $8.25 million Series A-2 financing.
The financing includes new investment partners from Think.Health Ventures, 10x Group, and Beacon Angels, along with numerous new individual investors and continued participation from current shareholders, such as; LRV Health and Life Science Angels.
"We are excited to have reached this financing milestone," said David Macdonald, CEO of First Light Diagnostics. "The additional capital and strengthening of our investor syndicate will augment our government grants and contracts and allows our team of industry experts to focus on execution of our commercial plans."
The new funding will be used to continue development of the MultiPath™ technology to rapidly detect hospital infections and determine their susceptibility to specific antibiotics. This includes preparation and support for product commercialization and launch in early 2020.
"First Light Diagnostics has developed a compelling solution to address hospital-acquired infections and antibiotic resistance," said Florian Kainzinger of Think.Health Ventures. "The company's unique application of technology and domain expertise with this challenging problem creates an exciting opportunity. We are pleased to partner with First Light as they move to the next phase of their development and commercial product launch."
President and CEO
First Light Diagnostics
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