TB Biosciences, a life sciences firm commercialising tuberculosis detection kits, receives $1.5m in series A funding.
Life sciences firm TB Biosciences (TBB), which is commercialising tuberculosis detection kits developed at the New York University (NYU) School of Medicine, has received $1.5m in series A backing.
NYU Innovation Venture Fund participated in the round, which was led by venture firm Originate Ventures. The funding adds to National Institute of Health funding, bringing the total backing TBB to in excess of $2.5m.
The financing will be used to support product development and clinical trials. It aims to provide easy to use, accurate and affordable test kits to identify active tuberculosis, still a major worldwide killer.
Frank Rimalovski, executive director of the NYU Innovation Venture Fund, said: “The early sensitivity and specificity data in the lab has demonstrated that TB Biosciences’ tuberculosis test is expected to meet or exceed consensus targets for sensitivity and specificity once the test is optimized. This would be a major breakthrough in tuberculosis testing and could go a long way to saving many lives each year.”
