T2 Biosystems Inc. closed a $23 million series D funding round this week, which will support its ongoing development and clinical trials and the company inches closer to a FDA bid and commercialization.
This latest round was led by new investor Aisling Capital LLC, and joined by existing investors Flagship Ventures, Polaris Venture Partners, Flybridge Capital Partners, Physic Ventures, Partners Healthcare, Arcus Ventures, RA Capital, Camros Capital and WS Investments.
In conjunction with the funding, Aisling Capital principal Dr. Josh Bilenker joins T2’s board of directors.
The Cambridge, Mass.-based startup developers nano- and miniaturized magnetic resonance-based technology, and its lead product is a new molecular diagnostic panel that detects five species of the fungal infection Candida in two hours, where existing assays can take days.
"There is no optical diagnostic for this organism, which is really what’s exciting about this test," CEO John McDonough told MassDevice in April when the company presented its study results at the annual meeting of the Mycoses Study Group in Philadelphia.
Here’s a roundup of other dealflow and investment news:
- Neograft raises $5 million
Neograft Technologies Inc. closed a $5 million funding round led by unnamed investors. The funds will go toward preclinical testing and development of its Angioshield vascular structural system for use during heart bypass procedures, MassHighTech wrote.
- ZocDoc’s online booking system rounds up $50 million
New York-based ZocDoc landed a $50 million series C investment from DST Global, bringing the company to $70 million raised to date. ZocDoc provides an online service that allows patients to find nearby doctors who accept their insurance, and book appointments online at no cost to the patient.