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LineaRx was formed last year to commercialize Applied DNA Sciences' technologies for DNA design, manufacture, and chemical modification by large scale PCR.
The firm reported that it has signed contracts for a total of 430 instruments, while commercial placements grew to 118 across the globe.
The Early Sepsis Indicator is intended to provide clinicians information about sepsis and the risk of developing sepsis in patients in acute care settings.
CEO Anders Rylander said the company will initially market its DiviTum assay for breast cancer cases, though it could be used to monitor cell proliferation in all cancer types.
The firm plans to use the funding to expand commercial sales efforts, advance CDx partnerships, build its regulatory infrastructure, and explore new R&D avenues.