The successful completion of an oversubscribed funding round was announced by Singapore-based medical technology start-up Thrixen. The company raised $7 million to further develop its cutting-edge diagnostic technology platform for multiplex point of care testing.
New investors John Ballantyne, Ph.D., co-founder and former chief scientific officer of Aldevron, and 22Health Ventures, an early-stage healthtech venture firm that focuses on investing in Singapore’s precision medicine and healthtech innovation community, co-led the round, according to a statement released by Thrixen.
With the ability to conduct multiplex diagnostic tests at the point of care for the first time, Thrixen’s innovative diagnostic technology platform will be developed further with the help of the funds raised, the company announced.
22Health’s investment offers Thrixen not only capital but also expedited access to the U.S. market via 22Health’s network of U.S. healthcare providers, operational know-how, and management advice on governance and business development.
Thrixen will welcome Dr. Ara Tavitian, a managing partner and co-founder of 22Health, as a board member.
However, John Ballantyne will bring his wealth of biotechnology experience and success in the field, having most recently led to Danaher’s acquisition of Aldevron in 2021.
Thrixen stated that his participation highlights the potential of the company’s technology and its ability to have a substantial impact on the healthcare sector.
“Receiving this funding is a pivotal moment for us at Thrixen,
“It enables us to further refine our Thrixen Protein Binder technology, a revolutionary step forward in diagnostic capabilities,” said Patthara Kongsuphol, Ph.D., Thrixen Co-Founder and Chief Technology Officer.
“The ability of our platform to detect multiple biomarkers from non-processed samples simultaneously, and swiftly and cost-effectively, will drastically transform diagnostic processes, particularly at the point of care,
“We are immensely proud to be at the forefront of developing technologies that have the potential to revolutionize how healthcare providers deliver care by bringing essential diagnostics closer to patients, affordably and at scale,” she added.
