NEW YORK (360Dx) – First Light Diagnostics today announced the closing of $4.5 million debt financing to support working capital requirements and acquire equipment and infrastructure to support platform development and pilot manufacturing.
Chelmsford, Massachusetts-based First Light said that the financing includes a lease line with CSC Leasing of Virginia and a debt financing facility with MassDevelopment, a Massachusetts state economic development and finance agency.
The firm's MultiPath platform relies on digital imaging to count labeled bacterial cells or single molecules tagged with antibody-coated fluorescent nanoparticles. The platform delivers antimicrobial susceptibility testing (AST) from a patient sample without culture, aiming to ensure that patients receive appropriate antibiotic treatment more rapidly than current practices, First Light said.
The firm said that technical studies have proven that the MultiPath technology is able to detect infection, identify pathogens, and determine the appropriate targeted therapy in hours rather than days.
In January, First Light closed an oversubscribed Series A-2 financing round that raised $8.25 million.