Novel Microdevices, Inc., a Baltimore, MD-based leader in medical diagnostic innovation, received an additional $2.68m in follow-on funding from the National Institutes of Health (NIH) Rapid Acceleration of Diagnostics (RADx®) Tech program.
The funding follows the completion of critical performance milestones for its high-performance, point-of-care RT-PCR platform, which rapidly detects RSV, Influenza A, Influenza B, and COVID-19 in just 15 minutes.
The company initially received $1.4m in Phase 1 funding in August 2023 to support the development of its next-generation diagnostic platform. Phase 1’s success highlights Novel Microdevices’ capability to advance point-of-care molecular diagnostics, offering laboratory-quality testing directly in clinical settings. With the follow-on award, the company is poised to accelerate commercialization efforts, aiming to bring advanced diagnostic solutions to market more quickly.
Led by Andrea Pais, CEO, Novel Microdevices is a clinical diagnostics company, whose flagship product, the Novel Dx device, provides a rapid, portable, and multiplexed solution for detecting infectious diseases at the point of care.
Launched in April 2020, the RADx Tech program aims to expedite innovation in COVID-19 diagnostics. In this latest funding phase, the program focuses on advancing high-performance point-of-care and over-the-counter testing solutions that emphasize user-friendliness, future-proof design, and minimal reliance on serial testing. With this follow-on funding, Novel Microdevices is on track to achieve its near-term commercialization goals within the timeframe established by the program.
