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Selux Diagnostics Closes $50M Series C Financing Round

NEW YORK — Selex Diagnostics recently announced the closing of a $50 million Series C financing round.

The round was led by RA Capital Management and included Sands Capital, Schooner Capital, and Northpond Ventures.

Boston-based Selux said it will use the money to support the commercial launch of its Next Generation Phenotyping (NGP) system for rapid antimicrobial susceptibility testing, which is based on a technology that involves the labeling and imaging of cultured bacteria combined with artificial intelligence-based interpretation in order to rapidly determine antibiotic susceptibility and the minimum concentration of antibiotic needed.

"This Series C funding allows us to build out our commercial team and positions Selux to transform infectious diseases patient care by establishing NGP as the new standard," Selux CEO Steve Lufkin said in a statement. "Selux's combination of unparalleled time to results and antibiotic test menu, together with its high throughput, will impact patient care and preserve the efficacy of critical antibiotics."

Selux, which previously said that it was targeting a first-half 2022 launch of the NGP system, has raised a significant amount of funding for the effort including a $14.6 million milestone payment from the US Department of Health and Human Services' Biomedical Advanced Research and Development Authority in mid-2021. And in September, it received about $1 million in Commercial Readiness Pilot Small Business Innovation Research funding from the National Institutes of Health.