Singapore’s Thrixen Raises Funds to Develop Multiplex Diagnostic Testing

Singapore-based Health technology startup Thrixen has successfully secured an investment totaling US$7 million, as announced by its CEO Shavit Clein. The funding round was co-led by 22Health Ventures, an early-stage investor specializing in health technology, and John Ballantyne, co-founder of Aldevron, a prominent biotechnology company. 

Thrixen intends to allocate these funds towards furthering the development of its innovative diagnostic technology platform, which aims to enable multiplex diagnostic testing directly at the point of care, a first in the field.

Thrixen focuses on the development of a diagnostics platform tailored for infectious diseases. The latest investment round is crucial for the company with support coming from established entities such as 22Health Ventures and John Ballantyne of Aldevron. 

Thrixen’s approach centers on its proprietary assay technology, a protein engineering platform having a 99.5% sensitivity in clinical trials. The company emphasizes that this breakthrough allows for the rapid differentiation between bacterial and viral infections within a mere 10-minute timeframe using a finger-prick sample.

The recent investment injects US$7 million into Thrixen’s coffers for the advancement of its diagnostic technology platform. CEO Shavit Clein expressed excitement over the support garnered, particularly highlighting the role of 22Health Ventures and John Ballantyne in sharing the company’s vision for the future of diagnostics.

Clein also welcomed Ara Tavitian, Managing Partner at 22Health Ventures, to Thrixen’s board, citing the partnership’s potential to accelerate market access and provide essential management guidance.

Thrixen’s collaboration with 22Health Ventures brings additional capital and facilitates expedited entry into the US market, along with valuable management guidance. Ara Tavitian, the founder and managing partner of the venture capital firm, will assume a position on Thrixen’s board. 

Founded in 2021 by a team of international scientists hailing from Singapore and the US, Thrixen is a biotech/medtech entity focused on developing a rapid diagnostic platform tailored for infectious diseases. The startup was founded during Covid and was involved in the development of the test kit for rapid detection of COVID-19 neutralising antibodies, but it has since moved onto develop a new diagnostic technology platform for multiplex point of care testing.

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