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Singapore-based medical technology start-up Thrixen Secures $7 Million in Funding – FUNDING NEWS

Thrixen, a health-tech startup, has successfully raised $7 million in a funding round led by John Ballantyne, co-founder of prominent biotech company Aldevron, and new investors 22Health Ventures, an early-stage health-tech investment firm.

Thrixen, a health-tech startup, has successfully raised $7 million in a funding round led by John Ballantyne, co-founder of prominent biotech company Aldevron, and new investors 22Health Ventures, an early-stage health-tech investment firm.

The money, according to it, will go towards developing its diagnostic technology platform, which might eventually enable multiplex diagnostic tests to be performed at the point of care for the first time.

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“At the heart of this innovation is Thrixen’s proprietary assay technology, a protein engineering platform that replaces the use of antibodies, which has proven 99.5 per cent sensitivity in clinical trials conducted to date,” said the Singapore-based diagnostics technology startup.

According to the business, a quick test based on a finger-prick sample can differentiate between viral and bacterial infections in as little as ten minutes thanks to the technology now under development.

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In addition to funding, 22Health’s investment gives the startup quick access to the US market and managerial advice because Ara Tavitian, the managing partner and founder of the venture capital firm, will become a board member, according to Thrixen.

Shavit Clein, chief executive officer of Thrixen, said “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.”

About Thrixen

Thrixen was founded by international scientists from multidisciplinary areas from Singapore and USA. Through many years of research, they have created a set of proprietary technologies that revolutionize biomarker detection and rapid assay generation.

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