Selux Diagnostics Receives $9.6 Million in Additional Funding, Speeding Development of Breakthrough Rapid AST Platform

BOSTON, April 27, 2020 /PRNewswire/ -- Selux Diagnostics, Inc., which is leading a new era in personalized medicine to treat superbug infections and combat antibiotic resistance, today announced that it has been awarded an additional $9.6 million from the Biomedical Advanced Research and Development Authority (BARDA), a division of the U.S. Department of Health and Human Services' Office of the Assistant Secretary for Preparedness and Response.

The $9.6 million is the third funding tranche the company has received from BARDA as part of the company's milestone-based contract, which is worth up to $45 million. Selux has now received $30.4 million in funding to date. Selux will use the additional funding to advance the development of their Next Generation 'Phenotyping' (NGP) technology, a rapid and precise antimicrobial susceptibility test (AST), through clinical trials.

"BARDA has offered strong support in the development of the Selux NGP platform and has led the way in the successful government-private sector collaboration to solve one of the world's toughest health challenges -- antibiotic resistance," said Steve Lufkin, CEO at Selux. "This leadership is especially vital now, as new data indicate the antibiotic resistance crisis is even more threatening than previously understood. BARDA is leveraged by our private investor support to transform microbiology and put our life-saving capabilities into action."

In November 2019, the Centers for Disease Control (CDC) released Antibiotic Resistance Threats in the United States, a study that found antibiotic-resistant bacteria and fungi cause more than 2.8 million infections and 35,000 deaths in the United States each year. Utilizing new sources, the study uncovered the mounting global threat of antibiotic resistance is much worse than previously known, with new data revealing that there have actually been 'nearly twice as many annual deaths from antibiotic-resistant infections as CDC originally reported in 2013'. Experts predict that without a major change in today's treatment paradigm, deaths from superbugs will surpass deaths from cancer by 2050.

Experts agree there is an urgent need for improved AST diagnostic innovation. With the combination of private investor support, in addition to the BARDA contract, Selux is answering the call for transformative patient care for Infectious Diseases. The NGP platform will enable clinicians to provide personalized antimicrobial therapies within 24 hours to speed cures, reduce patient deaths and de-escalate the cycle of antibiotic overuse and resistance.

About the Selux Next-Generation Phenotyping Platform
The proprietary Selux technology uniquely provides targeted therapy results days faster than the current standard of care providing actionable information to inform patient treatment for all Infectious Diseases. Selux's NGP platform provides unprecedented speed-to-results and breadth of menu while meeting the accuracy, throughput, and cost effectiveness requirements of clinical microbiology laboratories and integrated healthcare systems.

Caution - The Selux platform is an Investigational Device, Limited by Federal Law to Investigational Use

Acknowledgment
This platform has been funded in whole or part with federal funds from the U.S. Department of Health and Human Services (HHS); Office of the Assistant Secretary for Preparedness and Response (ASPR); and the Biomedical Advanced Research and Development Authority (BARDA), under Contract No. HHSO100201800013C.

About Selux Diagnostics
Selux Diagnostics is transforming patient care by offering <24-hour personalized antimicrobial therapy results for all Infectious Diseases patients. This advance will save lives, shorten hospital stays, and combat the growing antibiotic resistance epidemic by decreasing the overuse of broad-spectrum agents. The 5-year-old company is based on the opposite side of Boston, MA from where it originated in a co-founder's attic. Learn more at www.seluxdx.com.

CONTACT: Jay Staunton, 1-781-790-6023, [email protected]

SOURCE Selux Diagnostics, Inc.

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