MeMed raises $93 M to accelerate commercialisation of host immune-response product portfolio
MeMed BV test recently cleared for use by US FDA to aid in distinguishing between bacterial and viral infection on the point-of-need platform MeMed Key
MeMed, a leader in host response technologies, announced a $93 million private financing round, bringing total funding in the company to over $200 million, including support from the US Department of Defense and the EU Commission. Funds will be used to scale up manufacturing, accelerate commercialisation and expand MeMed’s pioneering host immune response product portfolio.
MeMed’s technology suite decodes the body’s immune response within minutes, providing physicians with important patient management solutions that tackle key clinical dilemmas. The US Food and Drug Administration (FDA) recently granted a landmark clearance for the use of the MeMed BV test on the point-of-need platform MeMed Key, to help healthcare providers distinguish between bacterial and viral infections in both children and adults. MeMed has also developed the MeMed COVID-19 Severity test for predicting severe outcomes in COVID-19 patients, which has been cleared for use in Europe.
The latest financing brings together new and existing investors including Horizons Ventures, Shavit Capital, Social Capital, La Maison Partners, Touchwood Capital, Caesara Medical Holdings, Union Tech Ventures, ClaI Insurance, Phoenix Insurance, Poalim Equity and Western Technology Investment.
