Binx Health announced that it successfully closed a $65 million series F financing round.
The round was led by Hildred Capital, with participation from EQT Life Sciences Partner, according to the firm. The funding will be used for commercial growth, sales support, and expanding manufacturing.
Binx Health sold its at-home testing business to molecular diagnostics firm Imaware in early December 2023, opting to focus solely on its point-of-care (POC) testing business. The company's Binx io POC molecular platform was cleared by the U.S. Food and Drug Administration (FDA) and approved for Clinical Laboratory Improvement Amendments (CLIA) waiver for the POC diagnosis of chlamydia and gonorrhea. The system can be used for both men and women and provides results in 30 minutes with the Binx Health io CT/NG assay, which is designed to detect Chlamydia trachomatis and Neisseria gonorrhoeae DNA by polymerase chain reaction.
In February, Binx entered into a distribution agreement with Cardinal Health to expand access to the Binx io platform across the U.S.
