PHENOTYPIC AST RESULTS-IN HOURS
• Acenxion Biosystems -We are seeking $2M capital raise (Update 10-08-2021 $500,000 already committed $1.5M still required -Minimum Investment $50K) for Acenxion Biosystems. The company has developed a rapid Anti-Susceptibility Testing system that with change the diagnostic world within the healthcare industry. Currently, the Gold-standard Phenotypic Antimicrobial Susceptibility Testing (AST) results are one of the most labor-intensive activities in a clinical microbiology lab and the results are notoriously slow, taking days. While doctors wait, hospital bills increase and patients suffer - or the results are too late to make a difference and the patient perishes. Acenxion’s proprietary technology has effectively reduced that processing time from days to hours. BARDA, WHO and the NIH agree as the company has just been awarded a $3M grant from the NIH.
Although this round is slated for $5M ($3M already in place) I have addressed the option for a larger raise with the board and they are open to considering a larger investment. Although the preferred structure / terms for the investment is SAFE note we are willing to discuss different structures.
Contact me for Pitch Deck and Data Room
The Problem & Opportunity
Today, bacterial infections are the leading cause of deaths in hospitalized patients, despite being able to prevent 80% of sepsis deaths using rapid diagnosis and treatment. Over previous decades, bacterial antibiotic resistance has increased and is projected to become the single largest global killer by 2050. Hence, bacterial resistance and infections remain top health concerns among governments, organizations like CDC, the United Nations, and the World Health Organization.
The current global market for AST exceeds $4B with 12% CAGR and is expected to continue significant growth in the decades ahead. 135M AST tests are run annually across the globe and AST is on the WHO list of 113 essential diagnostics ,*. In developed countries, more than half of all AST tests performed in labs are still manual methods developed over 40 years ago. All widely adopted automated methods still require 2-5 days to yield results.
The company is currently developing platforms and consumables permitting health care professionals to perform . The results from our hands-free, rapid AST technology will be available in under 4 hours of testing – reducing current average laboratory turn-around times (time to result) by at least two days.
Our devices will fit seamlessly into current clinical laboratory workflows. This is because we will not require any additional steps or specialized collection. We will replace the current slow automated devices and the labor-intensive manual methods with our rapid, hands-free, easy-to-use platform device. We follow the current “Gold Standard” Clinical Laboratory Standards Institute (CLSI) guidelines and perform phenotypic antibiotic susceptibility testing against bacterial pathogens that cause various infections.
Target customers for the devices and disposable consumables are clinical microbiology laboratories in hospitals, private diagnostic labs, and clinics.
Multiple Patents Granted
Minimum Investment $50,000.00 USD
Other = Biologics
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