Series A Financing Led by Omnimed Capital
Austin, Texas, May 17, 2018 – Klaris Diagnostics, an in vitro diagnostics company focused on simplifying antibiotic selection for drug-resistant infections, today announced the completion of a $3.75 million Series A investment round, led by Omnimed Capital. Proceeds from the round will support additional development of the company’s rapid antibiotic susceptibility testing platform.
“We are very excited to have Omnimed’s support as we develop diagnostic tools that are integral to improving patient outcomes and reducing healthcare costs,” said Nicolas Arab, Klaris’s CEO and co-founder. “Antibiotics are the cornerstone of modern medicine. With the rise of multi-drug-resistant bacteria, we need solutions that will allow hospitals to safely cure and prevent antibiotic-resistant infections. Klaris has developed a groundbreaking technology that addresses this problem.”
Around 2 million Americans are infected by antibiotic-resistant bacteria each year, and more than 23,000 die from drug-resistant “superbug” infections. The CDC is preparing hospitals everywhere to contain these deadly superbug outbreaks. In its latest containment strategy, the agency calls for an aggressive response to even a single case of an emerging antibiotic resistant pathogen. One of the main factors driving this resistance is inappropriate use of antibiotics which, according to the IDSA, is largely a side effect of the lack of rapid diagnostic tests that can inform timely treatment decisions.
About Klaris Diagnostics
Klaris Diagnostics is a privately-held in vitro diagnostics company founded in 2016 to help hospitals combat the problem of antibiotic resistance. Klaris is developing a next-generation clinical microbiology platform based on its patented phenotypic single-cell technology that can rapidly identify pathogens and determine their antibiotic response without the need for traditional time-consuming culture steps. Pathogen identification and antibiotic susceptibility are seamlessly integrated because they are accomplished using the same phenotypic method. Klaris’s technology relies on functional endpoints that encompass all possible resistance mechanisms, resulting in more comprehensive and reliable diagnoses compared to rapid genotypic tests. The result is more reliable diagnoses days faster but at comparable cost to the standard of care.
About Omnimed Capital
Omnimed Capital is an investment firm that specializes in healthcare investments and includes both venture capital and private equity investments. Omnimed’s investment strategy is grounded in the view that healthcare is transitioning toward personalized care and prevention tailored to specific circumstances, diseases and patient individualities. The Principals of Omnimed, and Omnimed’s parent company, Concorde Companies, have invested in numerous successful healthcare services and new medical technologies.