Visby Medical Says Series E Expands to $135 Million

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SAN JOSE<&sol;span><&sol;span><&sol;strong> &&num;8212&semi; <u>Visby Medical<&sol;u>&comma; a medical diagnostic company&comma;  announced that it expanded its over-subscribed Series E financing round to include an additional <span class&equals;"xn-money">&dollar;35 million<&sol;span> for a total of over <span class&equals;"xn-money">&dollar;135 million<&sol;span> raised in the round&period; The additional investment was led by Lightrock&comma; who joined existing Series E investors including <span class&equals;"xn-person">John Doerr<&sol;span>&comma; Cedars Sinai Medical <span class&equals;"xn-location">Center&comma; ND<&sol;span> Capital&comma; Artiman Ventures&comma; Pitango Venture Capital&comma; Blue Water Life Science Advisors and J Ventures&period;<&sol;p>&NewLine;<p>The additional investment will be used to enable Visby Medical to scale production capacity&comma; further expand the product menu to include advanced respiratory health tests&comma; antimicrobial resistance panels&comma; and deliver the power of PCR diagnostics to consumers at-home&period;<&sol;p>&NewLine;<p>&&num;8220&semi;At Visby Medical&comma; we are revolutionizing patient care by developing diagnostics that healthcare providers can use to test for any infection at anytime&comma; anywhere&comma;&&num;8221&semi; said Visby Medical Founder and CEO Adam de la Zerda&comma; PhD&period; &&num;8220&semi;Especially during these times of market slowdown&comma; our investors have shown significant confidence in Visby&&num;8217&semi;s innovative technology and mission&period; This funding will enable us to further our goal to provide the world&&num;8217&semi;s first instrument-free handheld PCR platform to accurately and rapidly test for a variety of serious infections to anyone who needs it&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Visby&&num;8217&semi;s patented gold standard PCR diagnostic technology is being developed in multiple therapeutic areas and is aimed to address a critical and growing global need&colon; to combat the significant rise in infectious diseases&period; The FDA-cleared Visby Medical Sexual Health Click Test is already being used in U&period;S&period; CLIA-waived settings&comma; such as Urgent Care and women&&num;8217&semi;s health clinics&comma; to detect gonorrhea&comma; chlamydia and trichomonas via self-collected vaginal swabs and deliver results in less than 30 minutes&comma; eliminating the need for presumptive treatment&period;<&sol;p>&NewLine;<p><span class&equals;"xn-person">Ashish Puri<&sol;span>&comma; Partner at Lightrock&comma; said&comma; &&num;8220&semi;Visby Medical have produced a diagnostics tool capable of transforming patient care&comma; enabling accurate results over the course of patients&&num;8217&semi; visit&period; The innovation behind this versatile product has the potential to decentralise lab testing&comma; producing major benefits for communities around the world and opening up access to affordable healthcare results&period; Lightrock invests in businesses using scalable technologies to deliver real and significant impacts and Visby aligns perfectly with that vision&period;&&num;8221&semi;<&sol;p>&NewLine;