Blood collection tech dev Boston Microfluidics raises $18m

May 1, 2019 By Fink Densford Leave a Comment

Blood collection and testing tech developer Boston Microfluidics has raised approximately $17.6 million in a new round of equity financing, according to a recently posed SEC filing.

The Boston-based company’s offerings include the Stick self-collection device, a product intended to allow an average user to collect clinical-grade blood samples without a phlebotomist. The device is needle-free and allows samples to be delivered through the mail from the user to labs, according to the company’s website.

The company also offers the Stick device through the Pixel Kit, in collaboration with LabCorp. The Pixel Kit is a home-based wellness screening kit, according to the site.

Money in the funding round came from 21 unnamed investors, and the total amount raised includes approximately $3.6 million from the conversion of promissory notes, according to the SEC filing.

Boston Microfluidics is not looking to raise any more money in the round, which had noted the first date of sale in the round as having occurred on August 31, 2018, according to the filing.

The company developed and produces a number of self-usable blood collection devices that are usable in remote testing situations.

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