Senzo, a life sciences company developing point-of-care diagnostic technologies, has announced a $1.9 million investment led by existing investors BioAdvance and Wellness Coaches.
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Concept to illustrate fund raising
The funding follows recent blinded studies by UCL and LateralDx, confirming that the Senzo Amplified Lateral Flow test had 98% accuracy in comparison to PCR in correctly identifying COVID-19 virus in samples, even at very low viral loads above 30 Ct. These studies, combined with an earlier study by Sheffield University, demonstrate the high performance of the Senzo Amplified Lateral Flow (ALF) platform. ALF is the only platform that combines the speed and low cost of lateral flow tests with the accuracy of PCR tests.
The investment will be used to complete validation, execute clinical trials, secure FDA EUA authorization, and scale manufacturing for the ALF COVID-19 test, as well as to advance R&D for new Flu A/B, RSV, Tuberculosis, HIV, Hepatitis-C, and Strep tests.
Jeremy Stackawitz, CEO of Senzo Health, said: "This funding further indicates the interest and excitement investors have in the ALF platform, and is another important step in bringing our technology to market. Whether for COVID-19, TB, Flu, or a range of other diseases, there are patients in desperate need of better at-home, rapid-test diagnostics, and a huge market needing our tests. This investment will help us bring this innovative technology to market even faster."
Senzo plans to complete ALF COVID-19 clinical trials and secure FDA EUA regulatory approval in 1H 2023, with tests commercially available in the 2H 2023.
