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Kryptos Biotechnologies raises USD 10 million in Series A funding to advance clinical studies and regulatory approval for molecular diagnostics system

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Apr 4, 2024

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Apr 4, 2024

Kryptos Biotechnologies raises USD 10 million in Series A funding to advance clinical studies and regulatory approval for molecular diagnostics system

Funding

Partnerships

Kryptos Biotechnologies has raised USD 10 million in a Series A funding round led by South Korea's Osang Healthcare.
The funding will be used to advance clinical studies of respiratory combo tests, which target FDA approval by 2025. The funds will also be used to further develop Kuick, Kryptos’ molecular diagnostic system for rapid, accurate, and affordable point-of-care testing.
In addition to the funding, the company has also formed a strategic alliance with Osang Healthcare to manufacture and distribute its product. Kryptos leverages its novel photothermal heating technology to enhance molecular diagnostic devices and various life sciences instruments. The company has developed a point-of-care molecular diagnostics system named "Kuick, which reduces the time for test results by approximately 20 minutes.

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