NEW YORK — Sense Biodetection on Tuesday announced that it has raised $50 million in Series B financing to support the commercialization of its Veros COVID-19 rapid molecular test and the continued development of a portfolio of instrument-free tests.
Koch Disruptive Technologies, a subsidiary of Wichita, Kansas-based Koch Industries, led the Series B round, which also included participation from Sense’s current investors Cambridge Innovation Capital, Earlybird Health, Jonathan Milner, and Mercia Asset Management.
Abingdon, UK-based Sense is developing its Veros platform using rapid isothermal amplification technology to detect a variety of diseases at the point of care. Its Veros tests are disposable and could be used outside of traditional healthcare settings, enabling better access for patients and providers, the firm said.
"[The] Veros COVID-19 test, which delivers laboratory-quality results directly to users within minutes … will be an essential tool in the effective management of outbreaks of this and other diseases," Harry Lamble, CEO of Sense Biodetection, said in a statement. The Series B financing provides Sense with the support it needs to "quickly scale manufacturing and commercialize the Veros platform, and launch a whole pipeline of testing products, beginning with the Veros COVID-19 test," Lamble said.
In October 2019, Sense announced it had raised £12.3 million ($17.2 million) to develop a portfolio of instrument-free molecular diagnostic tests.