Pattern Bioscience, Inc. today announced $9M in additional funding to accelerate the development and clinical validation of its Digital Culture rapid bacterial identification and susceptibility testing (ID/AST) technology.
Illumina Ventures led the Series B-1 funding and was joined by the lead investor from Pattern's previous two rounds, Omnimed Capital. As part of the transaction, Nick Naclerio, Founding Partner of Illumina Ventures, will join Pattern's Board of Directors. The funding will supplement the company's previously announced CARB-X award as the company works toward FDA clearance of its patented clinical microbiology diagnostics platform.
"Antibiotic resistance is one of the biggest threats to global health today and its effects are compounded by the current global pandemic. We desperately need a fundamental shift in the way common bacterial infections are treated," said Nick Naclerio, Founding Partner of Illumina Ventures. "Pattern is poised to unlock a new paradigm in targeted antibiotic treatment through faster and smarter diagnostics."
Digital CultureTM is a single cell analysis platform that uses digital cell reactors combined with machine learning to rapidly diagnose complex bacterial infections. The platform, which produces millions of measurements per run, will zoom into the real-time antibiotic response of individual bacterial cells within the first critical hours of illness.
Pattern's phenotypic testing platform is uniquely suited to address all common bacterial infections, including complex infections such as pneumonia, that elude other rapid antibiotic susceptibility testing technologies. This is particularly important during COVID-19, when more patients are hospitalized and in need of mechanical ventilation. Ventilated patients are at high risk of developing bacterial pneumonia and are often treated with antibiotics days before current antibiotic susceptibility tests can be completed. Pattern's faster bacterial tests can reduce the risk of antibiotic misuse and enable focused treatment, improving patient outcomes and reducing selective pressures that lead to drug resistance.
"These funds will allow us to bring our life-saving technology a step closer to market," said Pattern Co-founder and CEO Nick Arab. "With COVID-19 pulling us deeper into the antibiotic resistance crisis, there is an even greater need for rapid tests that can take the guesswork out of critical treatment decisions for complex infections. Illumina Ventures and Omnimed share this vision and we're excited to have their support for Pattern's next phase."
About Pattern
Pattern Bioscience is a privately held in vitro diagnostics company founded in 2016 to help combat the problem of antibiotic resistance. Pattern is developing a next-generation clinical microbiology platform based on its patented phenotypic single-cell technology that can rapidly identify pathogens and determine their antibiotic response without the need for traditional time-consuming culture steps. Pattern's Digital CultureTM technology relies on functional endpoints that encompass all possible resistance mechanisms, resulting in more comprehensive and reliable diagnoses compared to rapid genotypic tests. The platform will deliver more reliable diagnoses days faster than the current standard of care.
About Illumina Ventures
Illumina Ventures is an independently managed, healthcare-focused venture firm in a strategic partnership with Illumina, with the vision to unlock the power of the genome. As an early-stage, value-add investor, Illumina Ventures helps entrepreneurs develop breakthrough science and technologies into market-leading companies to transform healthcare. The firm focuses on investment in life science tools, therapeutics, diagnostics, and personal wellness. For more information, visit www.illuminaventures.com
About Omnimed Capital
Omnimed Capital specializes in venture capital and private equity healthcare investments. Omnimed's investment strategy is grounded in the view that healthcare is transitioning toward personalized care and prevention tailored to specific circumstances, diseases and patient individualities. The principals of Omnimed, a Concorde Company, have invested in numerous successful healthcare services and medical technologies.
