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SpeeDx Closes Series A Fundraising with Support from US Venture Firm.

M2 PHARMA-April 24, 2019-SpeeDx Closes Series A Fundraising with Support from US Venture Firm

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- Australia-based molecular diagnostic company SpeeDx Pty. Ltd. has closed further series A funding received by new investor partners, Northpond Ventures, LP a US-based, formative stage venture capital fund with a strong science and technology driven portfolio, the company said.

The funds received form part of a larger agreement that includes the addition of Northpond Ventures founder and CEO, Michael P. Rubin, M.D., Ph.D., on the SpeeDx board of directors.

The flagship test from SpeeDx, ResistancePlus MG - detecting the sexually transmitted infection Mycoplasma genitalium, also known as Mgen or MG, and genetic markers linked to macrolide antibiotic resistance is currently in clinical trials in preparation for submission to the US Federal Drug Administration later this year.

SpeeDx recently announced the same test will soon be available in Europe on the Cepheid GeneXpert System as part of their FleXible Cartridge program.

ResistancePlus MG is currently sold to central testing laboratories across Europe and throughout Australia and New Zealand and is considered the standard of care, in-line with guidelines worldwide, supporting Resistance Guided Therapy for Mgen infected patients, where resistance to front-line azithromycin treatment averages 40%.

Additional tests in the SpeeDx portfolio include the recently CE-IVD and TGA registered ResistancePlus GC - for detection of gonorrhoea infection and markers linked to susceptibility to ciprofloxacin.

Clinicians have enthusiastically welcomed the availability of this test, keen to move beyond detection-only tests and empiric treatment.

British gonorrhoea guidelines are the first to move to a Resistance Guided Therapy model, calling for preferential treatment with ciprofloxacin if susceptibility status is known.

Using ResistancePlus GC for gonorrhoea diagnostics could support clinicians to treat up to 70% of infections with ciprofloxacin, protecting our last effective antibiotic ceftriaxone - from overuse and the rising threat of antibiotic resistant strains.

Founded in 2009, SpeeDx is an Australian-based private company with offices in London and the US, and distributors across Europe. SpeeDx said it specialises in molecular diagnostic solutions that go beyond simple detection to offer comprehensive information for improved patient management.

Real-time polymerase chain reaction technology has driven market-leading multiplex detection and priming strategies. Product portfolios focus on multiplex diagnostics for sexually transmitted infection, antibiotic resistance markers, and respiratory disease.

Michael P. Rubin, M.D., Ph.D. is the founder and CEO of Northpond Ventures, a formative stage venture capital fund dedicated to science and technology. Dr. Rubin's active directorships include Mitra Biotech, DiCE Molecules, Inflammatix, Teckro, Candel, and Sherlock Biosciences.

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Publication:M2 Pharma
Date:Apr 24, 2019
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