NOWDiagnostics (NOWDx), a Springdale, AR-based developer of over-the-counter (OTC) and point-of-care (POC) diagnostic tests, raised $22.5M in Series B funding.
The round was led by DigitalDx Ventures, alongside Labcorp Venture Fund and Kompass Kapital Management.
The company intends to use the funds to drive the commercialization of at-home diagnostic tests, continue developing new diagnostic innovations, expand the pipeline of tests, and support strategic hiring initiatives.
Led by CEO Rob Weigle, NOWDx develops and manufactures over-the-counter (OTC) and point-of-care (POC) diagnostic tests. Its patented approach enables virtually any immunological assay to be accurately performed onsite in one step using a small amount of capillary blood, yielding results in minutes. With over 75 patents issued and pending, its First To Know® and ADEXUSDx® product lines are available in markets worldwide.
Commenting on the news, Rob Weigle said: “This oversubscribed round is a testament to our technology platform and mission. Testing is one of the most crucial tools in preventing the spread of infection and ensuring the well-being of public health. We are committed to making accurate, easy-to-use, and affordable at-home tests available to all.“
FinSMEs
09/07/2024