FluimediX receives fund for NanoCycler development

FluimediX, a point-of-care diagnostic company, announced today that it has received funding for the continued development of the NanoCycler™, a diagnostic platform for the measurement of relevant genetic mutations in patients. The proceeds of this financing round will be dedicated to developing a diagnostic test for Warfarin™ metabolism. The investment round was led by SEED Capital Denmark, a leading early stage investor managing more than € 200 million in total assets. Existing shareholders also participated in the financing. The size of the round was not disclosed.

Tomas Ussing, CEO and founder of FluimediX, commented: "We are extremely pleased that we have received additional financial support from our lead investor, which will enable the further development of our point-of-care diagnostic platform. Genetic testing with the NanoCycler™ may have a positive impact on patient diagnosis and treatment, and may deliver substantial cost savings in the long term. As a diagnostic platform, the NanoCycler™ offers a number of benefits. Firstly, it is comprised of low cost, well-established components. Secondly, the use of plastic disposables enables extremely competitive molecular diagnostic testing, and will thus bring this type of testing closer to the patient. Thirdly, the built-in broad versatility of the NanoCycler™ device will allow other tests to be transferred to or developed for the NanoCycler™ platform in the future."

The use of a diagnostic test for Warfarin™ metabolism would deliver important clinical benefits and cost savings to the healthcare system. Approximately two million people start taking Warfarin™ each year in the U.S. Unfortunately, the optimal dose differs significantly due to patient-to-patient genetic variation in how quickly Warfarin™ is metabolized, and the medical consequences of under- or over-dosing the drug can be severe. Roughly one-third of the population carries a genetic mutation that results in slow metabolism of the drug, so the identification of those patients who have this mutation could help avoid the consequences of under- or over-dosing.