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Sense Biodetection Raises Additional $15M in Series B Financing Round

NEW YORK ─ Point-of-care molecular diagnostic testing firm Sense Biodetection on Wednesday announced that it has raised an additional $15 million in Series B financing, bringing the total amount closed for the round to $65 million.

Current investor Koch Disruptive Technologies, a subsidiary of Wichita, Kansas-based Koch Industries, led the financing round.

The funds will support the anticipated US and European commercial launch of its COVID-19 Test on its Veros instrument-free molecular diagnostic platform, Sense said.

In April, the Abingdon, UK-based molecular diagnostic firm announced it had raised $50 million in Series B financing.

It recently completed a prospective, multisite clinical study that supported a submission to the US Food and Drug Administration for Emergency Use Authorization of its single use Veros COVID-19 Test, the firm said.

The test does not require an instrument and produces lab-quality results within 15 minutes using molecular amplification, the firm added.

"This increased funding by our current investors combined with our EUA submission, are two important milestones in getting our solution into the hands of clinicians," Sense CEO Timothy Still said in a statement, adding that the company expects to move the Veros platform toward commercialization in 2022, starting with the Veros COVID-19 test.