MeMed announced today that it has raised $93 million to boost the manufacturing and commercialization of its host immune response diagnostics.
The company, based out of Haifa, Israel and Boston, has raised a total of $200 million, including support from the U.S. Department of Defense and EU Commission.
The latest money-raise includes new and existing investors: Horizons Ventures, Shavit Capital, Social Capital, La Maison Partners, Touchwood Capital, Caesara Medical Holdings, Union Tech Ventures, ClaI Insurance, Phoenix Insurance, Poalim Equity and Western Technology Investment.
Raising the money comes on the heels of MeMed securing FDA clearance for use of this MeMed BV test on the point-of-need platform MeMed Key. MeMed BC can help healthcare providers distinguish between bacterial and viral infections in children and adults.
MeMed also has a MeMed COVID-19 Severity test cleared for use in Europe.
“This new investment will enable MeMed to expand operations with a focus on the U.S.,” MedMed CEO Eran Eden said in a news release. “We are grateful to our investors for their support and will leverage the funds, the recent FDA clearance, and our growing network of partnerships to provide broad patient access to our technology, as well as expand our product portfolio of pioneering host response solutions.”