Key Highlights
- $22.5 million Series B financing led by DigitalDx Ventures.
- Funding to commercialize at-home diagnostic tests and expand test pipeline.
- Innovative platform with over 75 patents for rapid, at-home testing.
- Notable investors include Labcorp Venture Fund and Kompass Kapital Management.
- CEO Rob Weigle highlights commitment to accessible, affordable testing.
Source: Business Wire
Notable Quotes
- “This oversubscribed round is a testament to our technology platform and mission. We are committed to making accurate, easy-to-use, and affordable at-home tests available to all.” — Rob Weigle, CEO at NOWDx
- “The importance of at-home testing cannot be overstated, as it enhances access to essential personal health information quickly to make more informed decisions for one’s health.” — Seth Auld, Vice President of Portfolio Management & Investment Originations at Kompass Kapital Management
SoHC's Take
The recent $22.5 million Series B financing round for NOWDiagnostics, led by DigitalDx Ventures, marks a significant milestone in the field of at-home diagnostic testing. This investment underscores the growing importance of rapid, accessible, and accurate diagnostic tools, especially in the post-pandemic world where health monitoring has become increasingly vital. The participation of prominent investors like Labcorp and Kompass Kapital Management further validates NOWDx’s innovative technology and strategic vision. With over 75 patents issued and pending, NOWDx is well-positioned to revolutionize the diagnostics market. Their unique approach, which allows for accurate results from a small amount of capillary blood, saliva, or plasma, is particularly noteworthy. The First To Know® Syphilis OTC test, currently under De Novo review by the FDA, exemplifies the company’s potential to bring groundbreaking products to market. Overall, NOWDx’s commitment to making healthcare more accessible, affordable, and efficient is commendable. This funding round not only accelerates their commercialization efforts but also supports their mission to enhance public health through innovative diagnostics.
