Thrixen, a Singapore-based medical technology start-up, has on Monday announced the successful close of an oversubscribed funding round, raising $7 million capital to accelerate the development of its innovative diagnostic technology platform for multiplex point of care testing.

Thrixen said in a statement that the round was co-led by new investors 22Health Ventures, an early-stage healthtech venture firm which focuses on investing in Singapore’s precision medicine and healthtech innovation community, and John Ballantyne, Ph.D., Co-founder and former Chief Science Officer at Aldevron.

Thrixen said it will use the funds raised to advance the development of Thrixen’s novel diagnostic technology platform that has the potential to perform multiplex diagnostic tests at the point of care for the first time.

In addition to capital, 22Health’s investment provides Thrixen with accelerated access to the U.S. market through 22Health’s ecosystem of U.S. healthcare providers, as well as operating expertise and management guidance on governance and business building.

Dr. Ara Tavitian, a Co-Founder and Managing Partner at 22Health, will join as a board member at Thrixen.

John Ballantyne, on the other hand, will bring his extensive experience in biotechnology and a track record of success, most notably leading to Aldevron’s acquisition by Danaher in 2021.

Thrixen said his involvement underscores the potential of the firm’s technology and its capacity to impact the healthcare industry significantly.

“Receiving this funding is a pivotal moment for us at Thrixen,

“It enables us to further refine our Thrixen Protein Binder technology, a revolutionary step forward in diagnostic capabilities,” said Patthara Kongsuphol, Ph.D., Thrixen Co-Founder and Chief Technology Officer.

“The ability of our platform to detect multiple biomarkers from non-processed samples simultaneously, and swiftly and cost-effectively, will drastically transform diagnostic processes, particularly at the point of care,

“We are immensely proud to be at the forefront of developing technologies that have the potential to revolutionize how healthcare providers deliver care by bringing essential diagnostics closer to patients, affordably and at scale,” she added.

Shavit Clein, Chief Executive Officer of Thrixen, said that by advancing technology they are addressing a crucial need to improve patient care and outcomes by enabling healthcare professionals to make faster, more accurate medical decisions at the point of care.

“This investment and our new partnerships will be instrumental in allowing Thrixen to develop its initial use cases in ways that will facilitate successful clinical trials and establish a robust regulatory package to bring our product to market,” he added.

Dr. Ara Tavitian, Co-Founder and Managing Partner at 22Health, said they are excited to partner with Thrixen to facilitate the transformation of diagnostic testing and to accelerate Thrixen’s access to the U.S. market.

“Thrixen’s platform opportunity fits squarely within 22Health’s investment themes aimed at enabling precision medicine solutions based on novel biomarkers,

“As our first portfolio company, Thrixen represents a significant step in our commitment to the development of healthtech and precision medicine start-ups in Singapore in ways that allow them to become globally competitive, while elevating Singapore as a global leader in healthtech and precision medicine innovation,” he added.

Thrixen is a diagnostics technology company developing a cost-effective, rapid, point of care multiplex platform utilizing proprietary engineered protein binders to test for a wide range of biomarkers.

Its initial use cases include differentiation of viral vs bacterial infections and malaria detection.

Thrixen was founded in 2021 by international scientists from multidisciplinary areas from Singapore and the U.S.

Its goals are to utilize its proprietary protein binders in combination with a unique assay format to bring essential diagnostics closer to patients, affordably and at scale.

Thrixen’s proprietary assay technology, a protein engineering platform that replaces the use of antibodies, has proven 99.5 percent sensitivity in clinical trials conducted to date.

The initial test in development is Thrixen’s VIBEX rapid multiplex test that distinguishes between bacterial and viral infections based on a fingerprick sample within ten

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