# Verax Biomedical, Incorporated

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/verax-biomedical

- Industry: Biotechnology
- Headquarters: Marlborough, US
- Website: www.veraxbiomedical.com
- Total disclosed funding: $20M
- Latest round: Series D (Sep 3, 2009)
- Investors on record: 6

## About

Verax Biomedical specializes in developing advanced diagnostic solutions for detecting bacterial contamination in blood products, enhancing safety in transfusion medicine with innovative technologies.Verax Biomedical is focused on providing diagnostic solutions for blood product safety. Founded in 1999 in Marlborough, US, the company has completed 17 deals, with its most recent funding round being a Venture Debt of USD 2.54 mn in September 2019. The company is led by CEO James Lousararian.Verax Biomedical specializes in the development and commercialization of advanced diagnostic solutions aimed at detecting bacterial contamination in blood products, particularly platelets. Their flagship product, the Platelet PGD Test, includes the PGDprime technology, designed for rapid and highly specific detection of bacterial contamination, including enhanced detection of Acinetobacter species. Their offerings primarily target hospitals, blood banks, and healthcare providers in the United States and internationally, especially in European markets where their products have received CE marking for use. By providing a quicker alternative for platelet dating, Verax Biomedical's solutions significantly contribute to patient safety and operational efficiency in blood transfusion practices.Verax Biomedical's revenue model is structured around the sale of its diagnostic testing products, including the Platelet PGD Test. The company operates on a B2B basis, supplying healthcare institutions and blood banks directly with their diagnostic solutions. Transactions typically involve bulk orders of testing kits, priced according to the specifications of the products being purchased. This pricing structure accommodates the needs of large-scale healthcare providers requiring reliable and timely testing solutions for bacterial contamination in blood products. The company's products are integrated within hospital systems, allowing for seamless adoption into existing blood safety protocols, thereby fostering ongoing partnerships with healthcare entities focused on enhancing patient outcomes in transfusion medicine.In September 2019, Verax Biomedical, Incorporated raised USD 2.54 mn in venture debt financing to support its future growth strategies. The company plans to launch new diagnostic products aimed at expanding its market offerings and enhancing its existing solutions. Specific geographic expansion plans include targeting additional European markets where access to blood safety technology is prioritized. The recent funding is expected to be utilized for product development and market entry strategies to bolster its presence in these new regions.

## Funding rounds

- Series D, Sep 3, 2009, $0.8M — BioVentures Investors, SightLine Partners
- Series D, Apr 2, 2009, $2.1M — BioVentures Investors, SightLine Partners
- Series C, Jul 9, 2007, $2.5M — BioVentures Investors, KB Partners, CNF Investments
- Series B, Oct 14, 2005, $15M — BioVentures Investors, Teknoinvest Management, LRVHealth, SightLine Partners, KB Partners, CNF Investments

## Investors

- BioVentures Investors (https://capitalatlas.ai/funds/bioventures-investors) — Series B, Series C, Series D
- Teknoinvest Management (https://capitalatlas.ai/funds/teknoinvest-management) — Series B
- LRVHealth (https://capitalatlas.ai/funds/lrvhealth) — Series B
- SightLine Partners — Series B, Series D
- KB Partners (https://capitalatlas.ai/funds/kb-partners) — Series B, Series C
- CNF Investments (https://capitalatlas.ai/funds/cnf-investments) — Series B, Series C