Rheonix, Inc. Completes $12.6 Million Series A Financing

Ithaca, NY — April 21, 2010 — Rheonix, Inc. today announced the completion of a $12.6 million Series A financing to continue development of the Rheonix CARD™ (Chemistry And Reagent Device) system. This powerful, analytic platform for the lifescience industry vertically integrates all the functions of traditional molecular diagnostic instrumentation into a single system to achieve unprecedented raw sample preparation, molecular amplification and multiplex analysis. The Rheonix CARD system provides a modular solution for rapid product development, allowing end users to automate new or existing assays using single or multiple raw clinical samples.

“Rheonix has positioned itself to be a powerful enabler for the evolving molecular diagnostics industry,” said Tony Eisenhut, President and Chief Executive Officer of Rheonix. “The Rheonix CARD system provides a simple solution for partners who seek to incorporate complex, high-throughput molecular diagnostics into their routine research and development efforts. With this funding, we will focus on scaling the Rheonix CARD system to demonstrate the full commercial potential of our platform.”

Dr. Peng Zhou, Chief Scientific Officer of Rheonix commented, “Our Rheonix CARD technology is part of a flexible system that can be customized for a broad range of assays. Through collaborations with the NIH and leading academic institutions, Rheonix has developed and begun to validate streamlined tests for infectious disease diagnosis and warfarin genotyping, demonstrating the rapid, high-quality raw clinical sample analysis made possible by Rheonix’s unique approach to microfluidic technology.”

Series A funding was provided by a syndicate of regional and international firms, which was led by the Cayuga Venture Fund and Bill and Eric Allyn.

Rheonix receives FDA Emergency Use Authorization for Automated COVID-19 Test.
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