Verax Closes On $12M Funding Round
Verax Biomedical announced the completion of a $12 million round of financing to support the ongoing commercialization of its product, the Platelet PGD Test.
Armed with this latest round of financing from current investors, the Marlborough-based developer of rapid tests for detecting bacterial contaminants said in a statement it is poised for aggressive growth in 2014. In addition to advancing the Platelet test, Verax said the $12 million will also fund the improvement of its bacterial contamination test. Both tests are designed to identify lethal bacterial contamination in transfused platelets.
“This additional financing will permit Verax to aggressively capitalize on the opportunity present with our existing product and it sets the stage for the introduction of our improved test that will offer significant advances in performance and ease of use,” Verax CEO James Lousararian said in a statement.
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