SPRINGDALE, Ark. — NOWDiagnostics Inc. of Springdale, a developer of over-the-counter and point-of-care diagnostic tests, announced Tuesday that it had raised $22.5 million in Series B financing.
The funding round was led by DigitalDx Ventures of Menlo Park, California, a venture capital fund comprised of Silicon Valley digital health investors and medical and legal professionals. The fund supports companies that use artificial intelligence and data to diagnose illnesses earlier, less invasively, more accurately and less expensively.
NOWDiagnostics, founded in 2013, said its technology allows virtually any immunological test to be accurately performed in one step using a small amount of capillary blood, yielding results in minutes. The company has more than 75 patents issued and pending, with platforms that include saliva and plasma testing, according to a news release. The company said its technology will enable rapid testing at home without a blood draw or throat swab.
To read more about this story, our content partner Arkansas Business has the full story here.
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