Friday, February 26th | 14 Adar 5781

Subscribe
July 27, 2020 10:46 am

Sight Diagnostics Raises $71 Million Amidst Covid-19 Demand for Blood Count Devices

avatar by CTech Staff

A nurse works inside a field hospital built on a soccer stadium in Machakos, as the number of confirmed coronavirus disease (COVID-19) cases continues to rise in Kenya, July 23, 2020. Picture taken July 23, 2020.REUTERS/Baz Ratner/File Photo

CTech – Israeli blood testing startup S.D. Sight Diagnostics has raised $71 million from international venture capital funds and US corporations, Clal Biotechnology Industries revealed in a report sent to the Tel Aviv Stock Exchange last week. Sight Diagnostics has yet to announce the details of the new funding round, but Clal Biotechnology Industries stated in its report that, following the news, its Anatomy Technology Fund, of which it holds a 50% stake, now owns 4% of Sight Diagnostics.

Sight raised a $27.8 million series C round in December 2018, with the round being led by Longliv Ventures, a member of multinational health and beauty conglomerate the CK Hutchison Group. Existing investors OurCrowd, Go Capital, and New Alliance Capital also participated.

Sight isn’t involved in Covid-19 detection, but its complete blood count (CBC) test is being used across the world to help treat coronavirus patients who require constant testing to determine their condition.

“After proving our technology in malaria detection, it became overwhelmingly clear to us that the CBC, the world’s most common blood test, is where we’d make the most impact,” said Sarah Levy, Sight’s CTO, following the series C announcement. “The ability to create rich digital images of blood samples and analyze them in minutes has enormous potential to improve diagnostics and patient care.”

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

Algemeiner.com

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.