Pennsylvania Business Report: Senzo raises $2M in equity funding for lateral flow diagnostic testing platform
https://pennbizreport.com/news/24019-senzo-raises-2m-in-equity-funding-for-lateral-flow-diagnostic-testing-platform/
Philadelphia-based Senzo, an in-vitro diagnostics company developing innovative, accurate, and accessible testing products, recently raised $2 million in equity funding.
Most of the funding was from BioAdvance, a life science venture capital firm. Wellness Coaches, a national health and wellness solutions provider, also contributed.
“We are very excited to be leading this investment in Senzo,” Dr. Gregory Harriman, BioAdvance partner, said. “We invest in promising life science companies that have technologies with the potential to significantly improve human health. Senzo’s technology offers to fundamentally advance early diagnosis and intervention for important diseases.”
Senzo recently announced the results of a blinded third-party study on its Amplified Lateral Flow (ALF) COVID-19 antigen test. The test proved to be 100 percent accurate, even in cases with very low viral loads.
The company also is developing high-accuracy lateral flow tests for influenza, hepatitis c, HIV, strep, sexually transmitted infections, tuberculosis, and other diseases. These diseases are usually diagnosed in central laboratories, but Senzo’s tests can be conducted in professional settings or at home in under 10 minutes.
“Our vision at Senzo is clear: to make the diagnosis of disease as fast, simple, inexpensive, and accurate as taking a temperature or blood pressure reading,” Senzo CEO Jeremy Stackawitz said.
