LeukoDx Inc. Reaches Key Prototype Milestone, Closes on the Second Tranche of $2 Million as Part of Its $8 Million in Funding Commitment

TOWSON, MD and JERUSALEM--(Marketwire - Nov 8, 2012) - LeukoDx Inc. is pleased to announce it has reached a significant milestone by completing the development of a functional alpha prototype of its instrument and cartridge for rapid diagnosis of infection/sepsis. Achieving this milestone triggered the next $2 million in investment by Axcel Partners, a U.S.-based private equity group. This follows a $1.5 million investment closed earlier this year, and is part of a standing commitment to fund the company up to a total of $8 million. This overall level of funding will enable the company to bring the development of its Point of Care flow cytometry platform to registration.

Julien Meissonnier, President and CEO of LeukoDx, stated: "We are pleased to have achieved a major milestone having developed a functional alpha prototype of both the instrument and the cartridge. With this new funding in place, we have already launched the efforts to develop the beta instrument and the beta cartridge, which we expect to complete by the middle of 2013. In parallel, we are actively seeking additional medical diagnostic applications suitable for our platform to be developed via collaboration agreements with partners."

Our diagnostics platform is targeting simple rapid IVD flow cytometry with results in 10 minutes from a single drop of blood using a disposable cartridge. It is designed to dramatically increase the use of cell based in-vitro diagnostics to allow for rapid clinical decision making in a variety of patient settings including neonatal and intensive care units, emergency departments as well as in remote locations lacking access to sophisticated diagnostic medical laboratories. LeukoDx is developing a neutrophil CD64 activation test, a superior diagnostic tool for the detection and monitoring of infections and sepsis, under exclusive license (for Point of Care) from Trillium Diagnostics, LLC. LeukoDx is now seeking collaboration and partnership with biotechnology and in vitro diagnostic companies to broaden the menu of tests implemented on its platform.

About LeukoDx 
LeukoDx Inc. was created in 2009. Its technology development is based on a novel flow cytometry platform initially developed for NASA at CalTech. LeukoDx's mission is to deliver cost-effective, highly sensitive and actionable diagnostic information with its novel automated IVD flow cytometry platform.