# Prominex

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/prominex

- Industry: Biotechnology
- Headquarters: San Diego, US
- Website: www.prominex.com
- Total disclosed funding: $4M
- Latest round: Series A (Sep 13, 2018)
- Investors on record: 1

## About

Prominex Inc. focuses on developing rapid and user-friendly diagnostic testing solutions, particularly for infectious diseases, enhancing accessibility to accurate healthcare solutions for users.Founded in 2016 in San Diego, US, Prominex Inc. specializes in diagnostic testing solutions, with a notable pivot towards home-based rapid testing for infectious diseases. The company has successfully secured funding, raising USD 4.00 mn in Series A funding from Casdin Capital and a private investor in September 2018. The company is led by Paul Gargan, with Paul Thomas serving as the CEO.Prominex Inc. specializes in the development of rapid, accurate, and easy-to-use diagnostic testing solutions, particularly focusing on infectious disease testing. Their core offering is a five-minute sample-to-answer molecular assay system that enables users to test for respiratory infections from home. This product addresses the need for accessible diagnostics, aimed at serving both individuals with and without special accessibility needs. Prominex’s solutions are designed to democratize diagnostics by providing reliable test results in a fraction of the time typically required for traditional testing methods. The company's products primarily target healthcare providers, retail pharmacies, and direct consumers in North America and select international markets.Prominex Inc. operates on a revenue model that incorporates partnerships with healthcare organizations, retail pharmacies, and direct-to-consumer sales. The company engages in transactions through B2B relationships as well as direct sales to end users, leveraging its innovative testing solutions. The pricing structure is designed to be accessible, aligning with the company's mission to provide affordable diagnostics; however, specific pricing details for individual products or services are not disclosed. Prominex’s flagship product, the rapid molecular assay, forms a central part of its revenue-generating activities, catering to a diverse clientele that includes both healthcare providers and individual consumers seeking reliable testing solutions.Prominex Inc. plans to utilize its recent Series A funding of USD 4.00 mn to support the development of new diagnostic products, with a focus on expanding their portfolio of infectious disease tests. The company is also targeting geographic expansion into additional international markets by 2025, aiming to increase accessibility to its diagnostic solutions. This strategic growth initiative is intended to enhance the company's presence in both established and emerging markets, ensuring broader access to rapid testing solutions.

## Funding rounds

- Series A, Sep 13, 2018, $4M — Casdin Capital

## Investors

- Casdin Capital (https://capitalatlas.ai/funds/casdin-capital) — Series A