Health-tech startup Thrixen bags US$7 million from 22Health Ventures, Aldevron co-founder

HEALTH-TECH startup Thrixen has raised US$7 million in a round co-led by new investors 22Health Ventures, an early-stage health-tech investment firm, and John Ballantyne, co-founder of leading biotech player Aldevron.

Thrixen said it will use the funds to advance the development of its diagnostic technology platform, which has the potential to perform multiplex diagnostic tests at the point of care for the first time.

“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.

The company noted that the technology under development allows for a rapid test to distinguish between bacterial and viral infections based on a finger-prick sample within 10 minutes.

Investment by 22Health, on top of the capital, provides the startup an accelerated access to the US market and management guidance as the venture capital firm’s founder and managing partner Ara Tavitian will join as a board member, said 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.” 

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The company’s existing investors include Ntuitive and private investors.