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Salignostics Closes $8M Series A Funding Round

NEW YORK – Israeli diagnostics firm Salignostics said Thursday that it has closed an $8 million Series A financing round.

The Jerusalem-based company said it will use the funds to continue development and commercialization of its rapid saliva-based tests for pregnancy, COVID-19, malaria, and cardiovascular risk and to support the launch of a new production plant currently under construction in northern Israel.

The round was led by angel investor Avigdor Orlinsky and included several other private investors as participants. Salignostics has raised a total of $16 million to date.

"The capital raised will enable us to leverage the full business potential of our proprietary platform, and benefit from the strong pending demand," Salignostics Cofounder and CEO Omer Deutsch said in a statement. "The future diagnostics world will become increasingly accessible to personal and home use, which can be done anywhere by anyone. Salignostics’ technology realizes this vision."

The company currently offers a CE marked saliva-based COVID-19 test, SaliCov, in Spain, and recently signed purchase agreements for the assay in other undisclosed countries. The test has also obtained Medical Devices and Accessories (AMAR) approval from Israel's Ministry of Health for institutional Point of Care use. The company also received a grant for the test from the US National Institutes of Health's Rapid Acceleration of Diagnostics initiative.

Salignostics' SaliStick pregnancy test has received the CE mark and Medical Devices and Accessories approval from Israel's Ministry of Health.