Jan 31, 2017

ChipCare picks up $2.8 mln of planned $18.8 mln Series B round November 17, 2016 By Kirk Falconer Toronto diagnostic startup ChipCare Corp has so far secured $2.8 million for its planned $18.8 million Series B financing. ChipCare said it retained San Francisco’s Biotech Alliances International as the lead investment banker for the fundraising. Founded in 2009, ChipCare leverages technology developed at the University of Toronto to deliver point-of-care diagnostics for HIV and other diseases to hard-to-reach populations. The funds raised will be used to bring its products to market. Last year, ChipCare raised a $5 million Series A financing led by Puffin Partners. Photo (seated): James Dou, co-founder and CTO, ChipCare Corp. PRESS RELEASE ChipCare Retains Biotech Alliances International to Lead Series B Capital Raise November 17, 2016 TORONTO–(BUSINESS WIRE)–ChipCare, a Toronto-based start-up diagnostic company, announced today that San Francisco-based life sciences investment bank Biotech Alliances International will serve as the lead investment banker for its $18.8 million Series B capital raise, $2.8 million of which has already been secured. ChipCare develops accessible diagnostics for inaccessible populations. Its Polvalent Analyzer (PAx) platform is the world’s first true point-of-care diagnostic device. It consists of a portable, highly mobile, easy-to-use analyzer and low cost disposable microfluidic cartridges that provides lab-quality diagnostic results in as little as 15 minutes at the point-of-care. Unlike existing devices, the PAx will be able to perform three classes of diagnostic tests and weighs less than two kilograms. “Over half of the world lives more than a day away from a central laboratory, making it difficult to access the diagnostic tests that are essential to providing medical treatment,” said James Fraser, ChipCare Chief Executive Officer. “As part of the global commitment to eliminate HIV as a global health emergency, our initial assays respond to the World Health Organization’s call for improved point-of-care diagnostics for HIV.” “This financing will help ChipCare bring its first generation analyzer and CD4 assay to market, and we are excited about the opportunity to play a role in bringing a technology that can have an important impact on world health,” said Franck Brinkhaus, CEO of Biotech Alliances International. About ChipCare Leveraging technology developed at the University of Toronto, ChipCare is a point-of-care (POC) diagnostics company that will bring lifesaving diagnostics to the hardest-to-reach populations. The ChipCare PAx (Polyvalent Analyzer) is a portable, easy-to-used multiplex reader that provides lab-quality results in as little as 15 minutes employing low-cost microfluidic disposable cartridges. About Biotech Alliances International Biotech Alliances International, Inc. is a San Francisco-based investment bank serving life sciences companies, private equity and venture capital funds. It provides independent financial and strategic advice including corporate finance, mergers & acquisitions, partnering & licensing, deal sourcing and strategic consulting. Contacts