IntelligentMDx has raised another $3 million in financing from a pair of undisclosed investors. Proceeds will be used for general development of its molecular diagnostic tests.
IntelligentMDx, incorporated in 2004, has raised a total of $26.5 million from a group of undisclosed non-venture capital investors. Its latest offering, begun May 12, is a note and warrant rights to the current Series D preferred stock.
IntelligentMDx is developing a number of clinically important tests that detect specific viral and bacterial nucleic acid targets with high specificity and sensitivity. IntelligentMDx extensively collaborates with numerous thought-leading clinical directors and laboratory specialists to understand what is required for the latest nucleic acid tests. IntelligentMDx has developed a proprietary bioinformatics process to rapidly design and develop tests that meet those clinical needs. Additionally, IntelligentMDx designs and develops its tests in compliance with increasingly stringent Food and Drug Administration (FDA) quality standards and is currently seeking an ISO 13485 certificate of compliance.
To date, IntelligentMDx has run numerous clinical evaluation studies and the results have been shown to be comparable to the gold standard of testing in all instances, sometimes showing greater sensitivity and specificity than existing methods. Numerous clinical laboratories have requested IntelligentMDx make available its tests as rapidly as possible. IntelligentMDx is currently pursuing the introduction of these tests to the market.
To accommodate growth and emerging commercialization efforts, IntelligentMDx has doubled its employees in the past 12 months. IntelligentMDx has also recently completed renovations at its Cambridge facility, roughly doubling its size to 18,000 square feet.
About IntelligentMDx
IntelligentMDx’s mission is to make FDA approved diagnostic kits. To guarantee quality for customers and partners, we design, develop and manufacture tests under FDA Quality System Regulations and ISO 13485:2003 guidelines. These tests have been, and will be, designed to run on a broad range of molecular systems for clinical diagnostics, drug development and applied sciences.
IntelligentMDx designs, develops and commercializes clinically impactful molecular diagnostic tests. Our goal is to support clinicians in their efforts to provide care with certainty. Our commercial offerings include emerging and re-emerging infectious threats and are available for use in CLIA laboratories covering the rapidly growing markets for transplant and health care-associated infections. IntelligentMDx’s expertise spans evolutionary biology, bioinformatics, and wet lab/molecular biology capabilities, harnessed by our proprietary product development process allowing for the rapid design and development of tests to meet clinical needs.
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For more information on IntelligentMDx, visit www.IntelligentMDx.com or contact Corporate Communications at cc@IntelligentMDx.com, 617-871-6400.