InfanDx AG completes Series A funding
InfanDx AG (Cologne, Germany), a privately held diagnostics company focusing on the development and commercialisation of novel diagnostic solutions for newborns, has held the first closing of a Series A financing round raising EUR4 million from new and existing investors.
In the transaction, new investor Alluti GmbH – Smart Invest, the family office of entrepreneur and brand specialist Bert Bleicher, joined existing investors participating in the raise, such as serial entrepreneur Jochen Tschunke and the LSI Pre-Seed Fonds GmbH of Life Science Inkubator Bonn, among others.
The proceeds will fund the further development of the Company’s lead product, the HypoxE Test for Hypoxic Ischemic Encephalopathy (HIE). The product is in advanced clinical development leveraging two unique prospective longitudinal cohort studies, AAMBI (completed) and BANON (nearing completion). These patient cohorts provide InfanDx with the opportunity to achieve highest levels of validation of the biomarkers and the diagnostic test developed for them.
These key achievements combined with the Series A funding put InfanDx in the position to reach key value-creating milestones over the next 12-18 months, including:
• the final design and validation of the HypoxE® biomarker panel and interpretative algorithm,
• the development of prototype HypoxE® tests for various laboratory and point-of-care settings,
• the development of a cloud-based HypoxE® interpretation software for clinical decision support in HIE.
“The investment in InfanDx is in line with our mission of combining commercial objectives with entrepreneurial responsibility,” says Bert Bleicher. “At InfanDx, people work for people, to the benefit of newborns and their families worldwide.”
InfanDx adds to Alluti’s extensive entrepreneurial investment portfolio in in medtech, biotech, and healthcare companies, among others. Alluti as well as Tschunke’s family office will be represented on InfanDx’ Supervisory Board by Klaus Albrecht, head of the Alluti GmbH – Smart Invest family office. His extensive background in banking and private wealth management and expertise in exit-oriented business models adds significantly to the profile of InfanDx’ board of industry experts and entrepreneurs.
“As Chairman of the InfanDx Supervisory Board, I would like to welcome our new board member Klaus Albrecht of Alluti GmbH, whose experience and know-how will be of great benefit going forward,” says Wolfgang Kintzel, Chairman of InfanDx´ Supervisory Board. ”Being able to close this Series A on a relatively short timeline under favourable conditions reflects the appreciation of current and new investors of the company’s recent excellent operational achievements, refocused strategic direction, and new leadership,” he continued.
“I would like to thank all Series A investors for their support and commitment to InfanDx,” says Dr Achim Plum, CEO of InfanDx. “The proceeds from this Series A will allow us to reach several very significant milestones in the development of our HypoxE test® that will be driving the company value. Based on such achievements, we target a Series B - tentatively scheduled for the second half of 2022 - that is expected to fund us through the product launches in Europe and a potential US FDA approval.”