Home Solutions Company Media Careers Contact Us Genalyte Announces Oversubscribed $50 Million Financing Round to Expand Testing Menu and Deploy Platform by | Jan 11, 2021 | 2021 News Diagnostic and Analytics Company Aims to Revolutionize Laboratory Testing and Analytics Genalyte, a leading diagnostics, and analytics company announced today the closure of $50 million in financing. Genalyte’s Maverick™ Diagnostic System (MDS) uses silicon chip-based photonic ring resonance technology to perform multiple, simultaneous, rapid tests on a small volume of whole blood or serum in twenty minutes. “We are energized by the very enthusiastic response from Investors for this latest round of funding,” said CEO Ashraf Hanna. “Genalyte is uniquely positioned to improve the laboratory diagnostic and analytic space. We’ve demonstrated the strength of our technology in our EUA authorized SARS-CoV-2 Multi-Antigen Serology Panel, which is able to measure 26 different antibodies from one drop of blood. Independent tests by the Mayo Clinic, Scripps, and Northshore Healthcare have consistently verified the platform’s industry-leading capabilities.” The financing round was led by Verily, an Alphabet company, and included current major investors Provenio Capital, Redmile, Khosla Ventures, HBM Healthcare Investments, Samsara, and others. Andy Conrad, CEO, and founder of Verily has been nominated to Genalyte’s board of directors. “Verily and Genalyte share a common vision of empowering physicians and patients with timely insights to improve outcomes and lower the cost of care,” said Andrew Conrad. “I look forward to working with Genalyte as they continue to innovate technology to advance rapid diagnostics and analytics.” The company intends to utilize the funding to expand the Maverick test menu and rapidly deploy the Maverick platform in clinical and retail settings. About Genalyte: Genalyte is a healthcare diagnostics and analytics company that improves patient outcomes and lowers cost with real-time results for physicians and patients. Genalyte delivers rapid, actionable results to doctors through decentralized laboratory testing. For more information, please visit www.genalyte.com. Recent Posts Thera-who? These biotech firms are looking to push what’s possible with blood Silicon Valley still believes in the promise of easy blood tests despite the Theranos scandal Genalyte and Sonora Quest Laboratories Partner to Provide Predictive Analytics for Cigna’s Medicare Advantage Plan Genalyte Announces Oversubscribed $50 Million Financing Round to Expand Testing Menu and Deploy Platform Genalyte Obtains FDA Emergency Use Authorization for Rapid COVID-19 Antibody Test Recent Comments Sitemap Home Solutions Merlin Test Menu Maverick SARS-CoV-2 Analytics Company Media News Clinical Fact Sheet Careers Contact Us Legal Contact General support support@genalyte.com Sales support sales@genalyte.com Public Relations media@genalyte.com Human Resources HR@genalyte.com Billing support (858)301-6001 Address 10520 Wateridge Circle, San Diego, CA 92121 Tel: (858)956-1200 Fax: (858)658-7300 © 2021 Genalyte, Inc. We use cookies on our website to give you the most optimized experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies. Cookie settings ACCEPT Feedback