Day Zero Diagnostics, a Boston-based biotech firm specializing in infectious disease testing, has successfully raised $16 million in funding. This recent financing round, conducted as a convertible note, brings the company’s total venture capital funding to $49 million, along with an additional $18 million in nondilutive funding.
Investors from a previous $21 million round also contributed to this latest funding initiative. Day Zero Diagnostics plans to utilize the funds to complete the development of its innovative Blood2Bac sample prep protocol. This low-cost protocol is designed to capture both bacteria and fungi using small sample volumes. In addition, the funding will be used to accelerate the development of a prototype commercial system, which includes hardware and Keynome, a suite of cloud-based artificial intelligence algorithms. These algorithms are essential in identifying organisms with high accuracy and providing antimicrobial susceptibility profiling.
Furthermore, the company has recently been awarded a phase I Small Business Innovation Research grant of $300,000 from the U.S. National Institutes of Health’s National Institute of Allergy and Infectious Diseases. This grant will be used to enhance the safety and efficacy of fecal microbiota transplants in clinical trials. Additionally, Day Zero Diagnostics received $14.4 million in funding from the Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator, a nonprofit organization.
Day Zero Diagnostics focuses on developing whole-genome sequencing-based tests for infectious diseases. This cutting-edge technology allows for more accurate and timely identification of pathogens, helping to improve patient outcomes and reduce the spread of infections. With the latest round of funding, the company is poised to make significant strides in the development and commercialization of their innovative testing system.
The successful funding round reflects investors’ confidence in Day Zero Diagnostics and their mission to revolutionize infectious disease testing. The company’s approach not only offers improved diagnostic capabilities but also addresses the growing concern of antibiotic resistance by providing accurate antimicrobial susceptibility profiling. By leveraging artificial intelligence and cloud-based algorithms, Day Zero Diagnostics aims to transform the field of infectious disease diagnostics, ultimately benefiting both patients and healthcare providers.
With the additional funding, the company plans to further refine their technology and bring it closer to market readiness. The completion of the low-cost Blood2Bac sample prep protocol and the development of a prototype commercial system are crucial steps in the journey toward widespread adoption of Day Zero Diagnostics’ testing platform.
As the world continues to grapple with the ongoing COVID-19 pandemic and the threat of other infectious diseases, innovative diagnostic solutions like those being developed by Day Zero Diagnostics are paramount. The ability to accurately and rapidly identify pathogens is vital in curbing the spread of infections, guiding appropriate treatment decisions, and ultimately saving lives.
Day Zero Diagnostics’ commitment to research and development, as well as their successful funding efforts, position them as a leader in the field of infectious disease testing. With their advanced technology and transformative approach, they are poised to make a significant impact in the fight against infectious diseases, both now and in the future.
