Cologne, Germany, and Boston, MA, USA, March 15, 2022 – InfanDx AG, a privately-held diagnostics company focusing on the development and commercialization of novel diagnostic solutions for newborns, today announced the second closing of its Series A financing round, raising approximately EUR 2 million in additional proceeds from new and existing investors. A first closing of the Series A totaling about EUR 4 million was completed in July 2021. The second tranche of this Series A was placed under the same conditions as the first tranche and oversubscribed by more than 50% based on strong investor interest.
In the transaction, FIL Bros. Capital GmbH, an investment vehicle of serial entrepreneur Tom Schröder, subscribed to a significant share of the capital raised and joined existing and further new investors participating in the round.
The proceeds will fund the development of the Company’s lead product, the HypoxE® Test for Hypoxic Ischemic Encephalopathy (HIE). The product is in advanced clinical development leveraging two unique prospective longitudinal cohort studies, AAMBI (completed) and BANON (to be completed by end of Q1-2022). These patient cohorts provide InfanDx with the opportunity to achieve highest levels of validation of the biomarkers and the corresponding diagnostic tests in development.
With all R&D activities on track, the additional placement of Series A shares provides further financial resources to reach key value-creating milestones over the next twelve months, including
“We are intrigued by the medical need that InfanDx is addressing with its HypoxE Test that can potentially help prevent lasting brain injuries for many children that experience complications during birth. The Company ticks all our boxes for ethical investments with the prospect of high societal impact,” commented Wilhelm Grauer, Managing Director of FIL Bros. Capital GmbH.
“With this second oversubscribed closing, we responded to unsolicited interest by current and new shareholders to invest into InfanDx, reflecting the excellent progress of the Company in executing its strategy and business plan,” said Wolfgang Kintzel, Chairman of InfanDx´ Supervisory Board.
“I would like to thank all investors participating in this second closing of our Series A for their support and commitment to InfanDx,” said Dr. Achim Plum, CEO of InfanDx. “The further proceeds from this transaction will add significant additional financial runway, allowing us to reach further very important milestones in the development of our HypoxE Test over the next twelve months. It will also give us negotiation leverage in a Series B round that is planned for the third quarter 2022. This planned Series B is expected to fund us through the product launches in Europe and a potential US FDA approval.”
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