E25Bio Secures $2.3M Seed Funding to Advance Rapid Infectious Disease Diagnostics

On August 27, 2019, VCBeat (WeChat ID: vcbeat) learned that U.S. biotechnology company E25Bio announced the completion of a $2.3 million seed financing round. The round was led by The Engine, with participation from Alumni Ventures Group and angel investor Alejandro Chavez.

Traditionally, the process of detecting dangerous diseases transmitted by mosquitoes could take at least several days. However, E25Bio has developed a rapid testing and diagnostic technology that can complete disease detection within minutes. E25Bio’s first product is a simple, over-the-counter test. It is the first testing technology capable of screening for active viruses, enabling faster and more accurate diagnosis of infectious diseases and allowing patients to receive timely treatment.

Jeff Takle, CEO of E25Bio, stated, “To date, no rapid diagnostic technology has been capable of simultaneously detecting and differentiating active, dangerous infectious diseases within a short timeframe to enable timely clinical intervention. With outbreaks currently occurring in the Dominican Republic, the Philippines, Bangladesh, and Brazil, children and the elderly worldwide face severe risks. We are committed to contributing our part to address this challenge.”

Aedes mosquitoes thrive in high-humidity environments and inhabit regions where more than one-third of the world’s population resides. They transmit viruses such as dengue, chikungunya, and Zika, causing nearly 700 million cases of acute febrile illness globally each year. A small proportion of patients develop severe complications, including hemorrhage, encephalitis, and myelitis, which can lead to death.

Ann DeWitt, General Partner at The Engine, stated, “We share a common mission with E25Bio: to build an infectious disease testing system with global impact, empowering doctors, nurses, and caregivers to help patients recover more quickly. By enabling faster, more accurate, more convenient, and more cost-effective detection of dangerous infectious diseases, E25Bio has the potential to improve the health outcomes of hundreds of millions of people worldwide.”

E25Bio, founded in 2018, is developing rapid methods for fever detection. Existing solutions rely heavily on centralized laboratory equipment, trained personnel, cold-chain logistics for specimen transport, and hub-and-spoke reporting mechanisms for data. E25Bio aims to provide a simpler alternative: timely identification of infectious diseases to prevent severe complications and death. Through precise early screening, E25Bio will help patients receive the right treatment at the right time.

The Engine, launched by the Massachusetts Institute of Technology (MIT), helps companies with product research and development design and commercialization by providing long-term funding, expertise, as well as specialized equipment and laboratories to cutting-edge technology firms.

Alumni Ventures Group (formerly Launch Angels) partners with alumni from universities across the United States to create and manage private, for-profit venture funds that invest in early-stage and growth-stage companies led by alumni.

(Compiled by Tian Shuhang)