NEW YORK — C2Sense and Princeton BioMeditech said on Tuesday that they have received an additional $2 million in funding through the US National Institutes of Health's Rapid Acceleration of Diagnostics (RADx) Tech High Performance program to continue development of a point-of-care test for COVID-19 and influenza A/B.
About a year ago, the companies received $1.5 million in Phase I funding from the RADx program to adapt Princeton BioMeditech's Status COVID-19/Flu test — a lateral flow immunochromatographic assay that received Emergency Use Authorization from the US Food and Drug Administration in early 2021 — into an over-the-counter fluorescent immunoassay that can run on C2Sense's Halo lateral flow assay reader and companion app.
According to the companies, the diagnostic has shown significant sensitivity and reliability in testing performed by the Atlanta Center for Microsystems-Engineered Point-of-Care Technologies on behalf of RADx. They are now planning a clinical trial, regulatory submission, and transfer to manufacture.
In September, Monmouth Junction, New Jersey-based Princeton BioMeditech received Emergency Use Authorization from the US Food and Drug Administration for a combination COVID-19 and influenza antigen test.
Earlier that same year, Watertown, Massachusetts-based C2Sense raised $8 million in Series B funding.