Massachusetts-based Seventh Sense Biosystems added 3 new investors this month with the closing of its Series B financing round, which brought in $16 million for the the company’s blood sampling devices.
Siemens (NYSE:SI), Novartis and Laboratory Corp. of America became new funders in this round, joining existing backers Flagship Ventures and Polaris Partners, 7SBio announced.
"The addition of world-class strategic partners Siemens, Novartis and LabCorp provides strong support to the company’s momentum in bringing this revolutionary technology to market," 7SBio CEO Howard Weisman said in prepared remarks. "The need for improving blood collection for point-of-care diagnostic testing in hospitals, doctor’s offices and clinical trials is significant as innovation in pre-analytical sampling methods has not kept pace with improvements in instrumentation and analytical methods. Our TAP products are intended to make diagnostics more comfortable, manageable and ubiquitous for patients, transforming blood-based testing regardless of geography or setting."
7SBio has been on a roll in recent months, having tallied 3 new U.S. patents since October 2013. The company’s technology portfolio is based on its Touch Activated Phlebotomy platform, which draws blood through microfluidic extraction, a 1-step process that doesn’t require access to a vein.