NEW YORK – Dutch diagnostic firm Enzyre announced on Wednesday that it has closed a €12 million ($11.8 million) Series A financing round.
The round was led by a new investor, Oost NL, with participation from I&I Biotech Fund, Demcon Investment, Takeda Ventures, and Novalis Biotech. Part of the funding comes from an innovation credit from the Dutch government, the firm said in a statement.
Nijmegen, Netherlands-based Enzyre plans to use the money raised to further develop its EnzyPad platform, which allows users to determine and monitor their blood coagulation status at home. The money will specifically support clinical trial registrations, the establishment of a sustainable manufacturing line, and investment in further expanding the platform's applications in critical care settings.
The firm's Hemophilia EnzyCard is intended to help patients with hemophilia self-test for their coagulation status and transfer the results to their physicians via a mobile phone app and a cloud-based app. The platform requires a small volume of blood and can measure up to 16 reactions simultaneously, the Radboud University Medical Center spinout said.
"Patient outcomes and quality of life will be dramatically improved by the ability of physicians to monitor coagulation status in real time, and we see great potential for the product to enhance personalized care," Pieter Rhemrev, senior investment manager at Oost NL, said in a statement.
In 2019, the company entered a research collaboration agreement with Takeda Pharmaceuticals to develop the test.