# SpeeDx Pty.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/speedx-pty

- Industry: Healthcare
- Headquarters: Sydney, Australia
- Website: www.plexpcr.com
- Total disclosed funding: $33M
- Latest round: Series B (Feb 7, 2020)
- Investors on record: 3

## About

SpeeDx Pty. Ltd. is an Australian biotechnology company that develops advanced molecular diagnostics, focusing on innovative multiplex qPCR assays for infectious disease research.Founded in 2009 in Sydney, Australia, SpeeDx Pty. Ltd. specializes in molecular diagnostics. The company has raised a total of USD 26.00 mn, with its most recent deal occurring on February 28, 2023, led by Northpond Ventures, Platinum Asset Management, and Tenmile. The firm was established by Alison FTSE, and Colin Denver currently serves as CEO.SpeeDx specializes in advanced molecular diagnostics, primarily offering innovative multiplex qPCR assays designed for research purposes. Their core product suite includes assays for detecting sexually transmitted infections (STIs), respiratory infections, and antibiotic resistance markers. Key products, such as the Plex Plus® technology, enable simultaneous detection of multiple targets in a single-well reaction, significantly enhancing laboratory efficiency and output. The company’s products are utilized in various research settings to address unmet needs in infectious disease monitoring, with a customer base that frequently includes clinical laboratories, academic institutions, and research organizations in North America, Europe, and Australia. SpeeDx continues to innovate, as evidenced by their development of assays that target specific pathogens, including Chlamydia trachomatis and SARS-CoV-2, providing invaluable tools for research in public health and epidemiology.In the most recent fiscal year, SpeeDx reported a revenue of USD 8,148,673.10 and an EBITDA of USD 13,609,720. The revenue model is based on the sale of Research Use Only (RUO) assays, which are not intended for diagnostic use. The company engages in direct sales to clients, including laboratories and research institutions, through a structured business-to-business (B2B) approach. Transactions typically involve bulk orders of their proprietary multiplex assays, with clients purchasing products such as the RespiV Plex Plus® for respiratory infection research or the Plex Prime® kits for STI detection. The pricing structure is tailored to accommodate various research project sizes, allowing for flexibility in order quantities and facilitating partnerships with larger research initiatives. As a result, SpeeDx effectively fosters long-term relationships with clients who benefit from their specialized products and advanced technology offerings.In February 2023, SpeeDx Pty. Ltd. raised USD 26.00 mn in venture funding to accelerate technology development aimed at increasing actionable patient results per test. The funding will support upcoming product launches, including new multiplex assays designed to enhance diagnostic capabilities. The company also plans to expand its market presence, specifically targeting Europe and North America by the end of 2024. This strategic growth will allow SpeeDx to reach a broader clientele and improve access to their innovative solutions in molecular diagnostics.

## Funding rounds

- Series B, Feb 7, 2020, $15M — Northpond Ventures
- Series B, Aug 6, 2019, $10M — Northpond Ventures
- Series A, Apr 17, 2019, $5M — Northpond Ventures
- Series A, Jun 25, 2009, $2.9M — PFM Cornerstone, Talu Ventures

## Investors

- PFM Cornerstone — Series A
- Talu Ventures (https://capitalatlas.ai/funds/talu-ventures) — Series A
- Northpond Ventures (https://capitalatlas.ai/funds/northpond-ventures) — Series A, Series B