LeukoDx attracts $7 mln funding

LeukoDx has secured $7 million in new financing from Axcel Partners and individual investors. Founded in 2009, LeukoDx’s technology is based on technology initially developed for NASA.

PRESS RELEASE

LeukoDx Inc., the creator of the Accellix automated flow cytometry platform, today announced that it has secured $7 million in new financing from Axcel Partners, a US-based private equity group, and individual investors.

“We are grateful for this strong vote-of-confidence from both existing and new investors,” commented Mr. Julien Meissonnier, LeukoDx’s President and CEO. “Having secured this major cash infusion, we will now accelerate our plans to bring the Accellix platform and rapid sepsis test to market.”

In parallel, the Company has appointed Mr. Mark Chess, a Managing Director for Infinity Equity, and Mr. Seymour Liebman, a senior executive officer of Canon Inc., to serve as members of the LeukoDx Board of Directors.

“I am excited to help bring LeukoDx’s exceptional technology — a solution for getting doctors life-and-death test results in minutes rather than days — to a health industry that remains stuck on so many diagnostic fronts,” commented Mr. Liebman. “I am confident that LeukoDx’s solutions will help raise the standards bar for healthcare throughout the world.”

“I am pleased to join the LeukoDx Board of Directors, a start-up whose visionary founders and seasoned management have already made impressive progress,” stated Mr. Chess. “I look forward to helping the team go the distance, bringing its needed technologies to large and rapidly-growing markets.”

Walter Drimer, Chairman of LeukoDx, added, “We are honored that both Mark Chess and Seymour Liebman have agreed to join our Board. Their outstanding international achievements and experience will be extremely valuable to us as we proceed with the launch of the Accellix platform and our first application, the Accellix Rapid Sepsis test.”

About LeukoDx Inc.
LeukoDx’s mission is to deliver cost-effective, highly sensitive and actionable diagnostic information at the point of care via a novel automated IVD flow cytometry platform. Founded in 2009, LeukoDx’s technology is based on technology initially developed for NASA at CalTech. To date, the Company has developed a compact reader for single use test-specific cartridges, and an application for the rapid identification of sepsis, a condition associated with high morbidity and mortality with no existing rapid diagnostic test.

About Mr. Mark Chess
Mr. Mark Chess, a Managing Director for Infinity Equity, was actively involved in establishing the FBR Infinity II Fund in 2001 and the world’s first foreign currency fund in China in 2005 (Infinity-CSVC). In 2007-2008, Mr. Chess helped create the strategy and lead the development of the Infinity I-China Fund, taking part in the activities that have made Infinity Equity one of China’s most prolific foreign investors. Currently, Mr. Chess manages Infinity’s strategic relationships with institutions in the U.S., including the Infinity-NSF portfolio.

About Mr. Seymour Liebman
Mr. Seymour Liebman serves as Executive Vice President, Chief Administrative Officer and General Counsel of Canon U.S.A., Inc., as Vice Chairman of Canon Business Solutions, Inc., and as a Senior Executive Officer of Canon Inc. in Japan. For the past 40 years, Mr. Seymour has held a variety of management positions at Canon U.S.A, Inc., and in 2009, became the first non-Japanese individual to be elected to the position of Executive Officer of Canon Inc. in Japan. Mr. Liebman is a Director and/or officer of several Canon subsidiaries and affiliates in the U.S. He is also a Board member of Zygo Corporation, a company in the process of being acquired by Ametek, Inc. Mr. Liebman is an attorney admitted to the Bar in New York, New Jersey and the District of Columbia and a C.P.A. He holds a B.A. in Mathematics from Hofstra University, an M.S. in Mathematics from Rutgers University, an M.S. in Accounting from Long Island University and a J.D. from Touro Law School.

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