TAI diagnostics closes $10 million Series A preferred equity financing

TAI diagnostics that oversees the health of transplanted organs announced the final closing of $10 million Series A preferred equity financing that will aid ongoing research and development of TAI’s innovative cell-free DNA transplant monitoring technology, clinical studies, and the upcoming commercial launch of its post-transplant monitoring assays performed by its reference laboratory accredited by CLIA and CAP. TAI diagnostics was founded in 2015 aiming to commercialize cfDNA technology licensed from the Medical College of Wisconsin for monitoring the health of transplanted organs.

Patient outcome is determined by transplant rejection that entails sporadic monitoring to discern rejection. The current method adopted is tissue biopsy but are invasive posing risks for the patients thus signifying erroneous sampling and organ damage yielding it as an expensive option for the patients as well as the healthcare system. The TAI test is however performed with a small blood sample marking a direct measurement of organ injury.

In addition to this, it has also entered into a collaboration agreement with United Therapeutics Corporation.

Frank Langley, CEO of TAI Diagnostics expressed confidence over the exciting collaboration stating  “We are very excited about working with United Therapeutics and utilizing our proprietary cfDNA technology as a companion diagnostic in their mission to increase the supply of transplantable organs and tissues and improve transplant patient outcomes through a variety of technologies under development, including xenotransplantation, organ manufacturing, regenerative medicine and ex-vivo lung preservation. United Therapeutics has demonstrated the ability to be a leader in therapeutics for pulmonary arterial hypertension and we believe they will also be transformational in organ transplantation.”