{"id":56290,"date":"2023-04-27T14:04:37","date_gmt":"2023-04-27T12:04:37","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/pattern-bioscience-secures-28-7-million-in-series-c-financing\/"},"modified":"2023-04-27T14:04:37","modified_gmt":"2023-04-27T12:04:37","slug":"pattern-bioscience-secures-28-7-million-in-series-c-financing","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/pattern-bioscience-secures-28-7-million-in-series-c-financing\/","title":{"rendered":"Pattern Bioscience Secures $28.7 Million in Series C Financing"},"content":{"rendered":"
\n

\nNew funding will be used to accelerate development of first-of-its-kind infectious disease diagnostic platform that will deliver rapid antibiotic treatment guidance<\/i><\/p>\n

AUSTIN, Texas–(BUSINESS WIRE)–Pattern Bioscience, Inc<\/a>., an innovator in rapid diagnosis and antibiotic susceptibility testing (AST) for bacterial infections, today announced the completion of a $28.7 million Series C financing. The latest funding round was led by Illumina Ventures and Omnimed Capital and includes participation from the Antimicrobial Resistance Action Fund and Daleshaw Ltd. This new round brings the company\u2019s total funding raised to date to $68 million.<\/p>\n

<\/a><\/p>\n

\nPattern is pioneering the use of single-cell microbiology to rapidly diagnose drug-resistant bacterial infections and identify effective treatments. The company will use the new funds to complete the development of its groundbreaking rapid phenotypic test platform for infectious diseases, perform clinical validation studies, and submit the platform and the company\u2019s initial pneumonia test for regulatory review with the U.S. Food and Drug Administration (FDA).<\/p>\n

\nPattern\u2019s novel technology, based on single-cell analysis of microorganisms combined with machine learning, can generate clinically actionable data identifying the causal pathogen and profiling its antibiotic susceptibility in hours \u2014 rather than the days required for culture-based tests, the current standard. The company\u2019s first test, which was granted Breakthrough Device Designation from the FDA in December 2021, will be for hospitalized patients with pneumonia. In the future, Pattern\u2019s technology will support a full menu of other tests.<\/p>\n

\n“We are grateful for the support from our investors as we strive to revolutionize bacterial testing with our single-cell microbiology platform,\u201d said Nick Arab, co-founder and CEO of Pattern Bioscience. \u201cWe believe our technology will significantly impact patient outcomes and help tackle the growing challenge of antibiotic resistance.\u201d<\/p>\n

\nEvery year, approximately 1.3 million lives1<\/sup> and billions of healthcare dollars are lost to drug-resistant bacterial infections, and faster diagnostic tools are urgently needed to help mitigate this crisis by enabling targeted antibiotic treatment. Using standard-of-care culture-based tests, it can take up to four days to secure a definitive diagnosis for a critically ill patient. Studies have shown that such patients with drug-resistant infections are four to seven times more likely to die if there\u2019s even a 24-hour delay in effective antibiotic treatment.<\/p>\n

\n\u201cPattern Bioscience\u2019s system will rapidly identify the pathogen causing an infection and provide clear guidance about the best antibiotic to treat the patient,\u201d said Nick Naclerio, founding partner of Illumina Ventures. \u201cI am enthusiastic about the impact they will have on patient outcomes and the global antibiotic resistance threat.\u201d<\/p>\n

\nAbout Pattern<\/b><\/p>\n

\nPattern Bioscience aims to save lives by transforming how bacterial infections are diagnosed and to improve global health by reducing the burden of antibiotic resistance. Its single-cell microbiology technology is the first and only culture-free, rapid phenotypic testing platform to deliver clinically actionable results in a timeframe that will enable healthcare teams to get appropriate, life-saving treatments to patients fast enough to make a real difference in outcomes. The company\u2019s first tests will be for critically ill patients with pneumonia and bacteremia, identifying both the causal pathogen and its antibiotic susceptibility profile in hours, compared with the days required for traditional culture testing. Pattern Bioscience is a privately held company based in Austin, Texas, led by veterans of the diagnostic industry with deep experience bringing new diagnostic technology to market. For more information, please visit pattern.bio<\/a>.<\/p>\n

\nResearch reported in this press release is supported by CARB-X. CARB-X\u2019s funding for this <\/i>project is provided in part with federal funds from the U.S. Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority; under agreement number: 75A50122C00028, and by an award from Wellcome (WT224842). The content of this press release is solely the responsibility of the authors and does not necessarily represent the official views of CARB-X or any of its funders.<\/i><\/p>\n

\n1<\/sup>Murray C, et al. \u201cGlobal burden of bacterial antimicrobial resistance in 2019: a systematic analysis.\u201d The Lancet, <\/i>399 (10325):629-655. February 12, 2022. https:\/\/doi.org\/10.1016\/S0140-6736(21)02724-0<\/a><\/p>\n

Contacts<\/b> <\/p>\n

\nNancie Steinberg
\n
nancie@bioscribe.com<\/a>
+1.917.439.2054<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

New funding will be used to accelerate development of first-of-its-kind infectious disease diagnostic platform that will deliver rapid antibiotic treatment guidance AUSTIN, Texas–(BUSINESS WIRE)–Pattern Bioscience, Inc., an innovator in rapid diagnosis and antibiotic susceptibility testing (AST) for bacterial infections, today announced the completion of a $28.7 million Series C financing. The latest funding round was … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-56290","6":"format-standard","7":"category-industry"},"yoast_head":"\nPattern Bioscience Secures $28.7 Million in Series C Financing - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/pattern-bioscience-secures-28-7-million-in-series-c-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pattern Bioscience Secures $28.7 Million in Series C Financing - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"New funding will be used to accelerate development of first-of-its-kind infectious disease diagnostic platform that will deliver rapid antibiotic treatment guidance AUSTIN, Texas–(BUSINESS WIRE)–Pattern Bioscience, Inc., an innovator in rapid diagnosis and antibiotic susceptibility testing (AST) for bacterial infections, today announced the completion of a $28.7 million Series C financing. The latest funding round was ... 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