EIT Health Catapult Finalist 2017 SpinDiag has raised 3M € in a series A
SpinDiag closes second financing round of EUR 3.0 million (USD 3.4 million) to complete product development of its point-of-care screening system for antibiotic-resistant bacteria
One year after its seed financing, SpinDiag GmbH closes a second financing round of EUR 3 million (USD 3.4 million). The financing will enable SpinDiag to complete the product development of its first product for screening for antibiotic-resistant bacteria and to start clinical trials. This will pave the way for regulatory approval in the EU.
SpinDiag’s fast and reliable diagnostic system will enable easy and efficient infection diagnostics. For the first time, healthcare facilities will be able to economically test all at-risk patients for all relevant antibiotic-resistant bacteria at their admission with SpinDiag’s first product, immediately decide on hygiene measures and may thus treat carriers of such bacteria in isolation from other patients. This will enable an efficient and safe admission process to increase patient safety and avoid costs for unnecessary isolation or even outbreaks.
Antibiotic-resistant bacteria detected by the test, such as methicillin-resistant Staphylococcus aureus (MRSA), vancomycin-resistant enterococci (VRE), carbapenemase-producing (CPO/CRE) and extended-spectrum betalactamase-producing (ESBL) organisms, were recently attributed responsibility for more than 30,000 deaths per year in the EU in a study published by the European Centre for Disease Prevention and Control (ECDC). These figures have more than doubled since 2007. In addition, 75% of them were hospital-acquired infections, so-called nosocomial infections. This makes prevention particularly important. “The SpinDiag system will provide healthcare facilities with a standardized, efficient and economical screening process that transparently focuses on patient safety,” emphasizes Dr. Mark Keller, co-founder and Chief Product Officer of SpinDiag.
Read more about their Series A funding round on our partner website SpinDiag.de