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Full Deal Summary

Diagnostics firm SpinDiag GMBH raised €3mm ($3.4mm) in its Series A financing to undisclosed investors.

The company was formed in 2016 from the German Accelerator Life Sciences program. SpinDiag is developing the SpinDiag one point-of-care PCR-based screening system that tests patients for antibiotic-resistant bacteria within 30 minutes while in the hospital. It allows for the parallel identification of the 25 most prevalent drug resistances in bacterial pathogens, such as methicillin-resistant Staphylococcus aureus and vancomycin-resistant enterococcus. SpinDiag expects to enter the product into clinical validation in Europe next year followed by gaining FDA approvals and US market access. The firm raised $1.8mm in its seed round last year.


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Financials


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Overview
Potential Deal Value $3.40mm
Transactions 1 of 1 (11/2018)
Round # 1
Funding Stage Additional Round
Equity $3.40mm
Total Line Value $3.40mm
Gross Proceeds $3.40mm