TUCSON, Ariz. – PathogenDx, Inc., an innovator in DNA-primarily based pathogen testing technologies for the cannabis, hemp, agriculture and meals security industries, right now announced $7.five million in Series B funding. This most current 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 beneath 3 months.
The further investment will enable PathogenDx to continue expanding its breakthrough technologies into meals and agriculture testing, though continuing to create on its leadership position with existing portfolio of domestic and international consumers in the cannabis sector. This news comes on the heels of PathogenDx’s announcement earlier this year relating to the broader application of their proprietary microarray technologies for fast strain identification that can reveal bacterial and fungal test outcomes in six hours or much less, compared to the sector normal of 72 hours or longer. PathogenDx anticipates complete federal approval of its technologies by 1st half of 2020.
“PathogenDx has pioneered one particular of the most precise and cutting-edge pathogen testing
technologies on the market place. This investment is a important vote of self-assurance by sector leaders that our technologies can and will make a considerable influence across all pathogen testing industries,” mentioned CEO Milan Patel. “Our aim for the subsequent year is to expand our DNA processing so other industries have access to inexpensive and dependable pathogen test outcomes to enhance item security and shield customer well being.”
“PathogenDx is proving they have the break-by means of technologies and group to disrupt each testing and item requirements all through the agricultural, meals and healthcare industries,” mentioned PathogenDx Board Member Ephraim Lindenbaum, Managing Director at Advance Ventures, a Silicon Valley primarily based AgTech, FoodTech and Digital Well being investor.
“We are regularly hunting for revolutionary enterprises to create a robust cannabis market place, and we had been completely impressed by Milan Patel’s lengthy term vision for each his firm and the sector,” mentioned Matt Hawkins, Managing Companion at Cresco Capital Partners. “Patel and his group have the practical experience and passion to generate the subsequent normal-bearer in pathogen testing technologies, and we are thrilled to companion with them.”
Headquartered in Scottsdale, Arizona, PathogenDx’s mission is to grow to be the new normal in DNA-primarily based testing by means of widespread adoption of its sophisticated microarray testing platform for the cannabis, hemp, agriculture, meals and beverage industries. PathogenDx’s technologies can quickly determine and detect up to 50 pathogens all in a single test, in six hours delivering triplicate information per analyte for certainty in outcomes with a basic and uncomplicated course of action. The company’s DNA-testing products–DetectX, QuantX, and EnviroX–are disrupting the century-old practice of petri-dish testing to determine, detect and quantify pathogens like E. Coli, Salmonella and Aspergillus. This technologies will assist developing enterprises provide safer items and healthier lives, though stopping millions of dollars in losses from contaminated or spoiled crops.