TUCSON, Ariz. – PathogenDx, Inc., an innovator in DNA-primarily based pathogen testing technologies for the cannabis, hemp, agriculture and meals security industries, nowadays announced $7.five million in Series B funding. This most up-to-date investment round was led by Cresco Capital Partners with participation from Altitude Investment Management, Arcadian Investment Partners, Panther Chance Fund LLC, Salveo Capital, Flatiron Venture Partners and other investors. PathogenDx was in a position to close this round of funding in just below 3 months.
The further investment will permit PathogenDx to continue expanding its breakthrough technologies into meals and agriculture testing, though continuing to develop on its leadership position with present portfolio of domestic and international customers in the cannabis sector. This news comes on the heels of PathogenDx’s announcement earlier this year concerning the broader application of their proprietary microarray technologies for fast strain identification that can reveal bacterial and fungal test final results in six hours or significantly less, compared to the sector typical of 72 hours or longer. PathogenDx anticipates complete federal approval of its technologies by very first half of 2020.
“PathogenDx has pioneered a single of the most precise and cutting-edge pathogen testing
technologies on the market place. This investment is a essential vote of self-confidence by sector leaders that our technologies can and will make a important influence across all pathogen testing industries,” stated CEO Milan Patel. “Our target for the subsequent year is to expand our DNA processing so other industries have access to economical and dependable pathogen test final results to strengthen item security and guard customer wellness.”
“PathogenDx is proving they have the break-via technologies and group to disrupt each testing and item requirements all through the agricultural, meals and healthcare industries,” stated PathogenDx Board Member Ephraim Lindenbaum, Managing Director at Advance Ventures, a Silicon Valley primarily based AgTech, FoodTech and Digital Well being investor.
“We are frequently searching for revolutionary enterprises to develop a robust cannabis market place, and we have been completely impressed by Milan Patel’s extended term vision for each his business and the sector,” stated Matt Hawkins, Managing Companion at Cresco Capital Partners. “Patel and his group have the knowledge and passion to make the subsequent typical-bearer in pathogen testing technologies, and we are thrilled to companion with them.”
Headquartered in Scottsdale, Arizona, PathogenDx’s mission is to turn into the new typical in DNA-primarily based testing via widespread adoption of its sophisticated microarray testing platform for the cannabis, hemp, agriculture, meals and beverage industries. PathogenDx’s technologies can quickly recognize and detect up to 50 pathogens all in a single test, in six hours delivering triplicate information per analyte for certainty in final results with a basic and effortless method. The company’s DNA-testing products–DetectX, QuantX, and EnviroX–are disrupting the century-old practice of petri-dish testing to recognize, detect and quantify pathogens like E. Coli, Salmonella and Aspergillus. This technologies will aid expanding enterprises provide safer solutions and healthier lives, though stopping millions of dollars in losses from contaminated or spoiled crops.