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SpeeDx Raises Additional $15M

NEW YORK — Australian diagnostics firm SpeeDx said on Tuesday that it has raised $15 million in new Series B funding.

The investment was made by Northpond Ventures, which last year invested $20 million in SpeeDx. 

The firm will use the additional funds to support its product and services pipeline, SpeeDx CFO Bhavin Raval said in a statement.

SpeeDx recently launched its flagship ResistancePlus MG FleXible test for the sexually transmitted disease Mycoplasma genitalium, as well as markers associated with azithromycin resistance. The test is exclusively distributed by Cepheid for use on its GeneXpert System and is currently available in Australia, New Zealand, and parts of Europe including the UK.

SpeeDx said it is currently finalizing clinical trials of ResistancePlus MG in the US and is preparing to begin US-based clinical studies of the ResistancePlus GC test for determining the susceptibility of gonorrhea infections to ciprofloxacin. The company also recently partnered with Laboratory Corporation of America to codevelop diagnostic assays for women's health and infectious disease indications.