NEW YORK (360Dx) – Kypha said today that it has secured $4 million in Series A funding that it will use to complete the integration and expand manufacturing capacity of recently acquired Biosensia and its ISO 13485-certified facilities in Dublin, Ireland.
Saint Louis, Missouri-based Kypha said that it will also use the funds to support the commercial launch of additional tests and to expand partnerships with pharmaceutical companies advancing promising therapies for immune disorders.
Arsenal Capital Management led the funding round, marking the third capital investment it led for Kypha.
Kypha said that its technology platform — based on use of lateral flow immunoassays — can enable reliable complement testing at scale, in the home and in clinical laboratories, to support precision immune monitoring in a growing complement drug and immunotherapy marketplace.
More precise and frequent monitoring of complement and immune activity can facilitate quicker and more accurate treatment decisions, reducing costly misdiagnoses and ultimately improving outcomes for millions of patients with immune system disorders, the firm said.
Precision immune monitoring impacts the care continuum across a diverse range of conditions including autoimmune disorders, inflammatory disease, and cancer. Unmet needs in these areas added to the growth of immune-targeted therapies are driving demand for complement testing, most of which is not reliable, timely, or scalable, Kypha said.
Securing the additional funding supports Kypha's commercial and strategic partnering goals of delivering "companion diagnostics and immune monitoring solutions to drug developers, patients, providers, and payers," the firm's CEO Chad Stiening said in a statement.
In July, Kypha acquired Biosensia, a developer of multi-analyte assays on a low-complexity, CLIA-waived testing platform, for an undisclosed amount.