Dutch firm ShanX Medtech, which develops a platform for rapid antimicrobial susceptibility testing, has secured €24 million from investors, Innovatiekrediet, and a European Commission grant.
- Launched in 2019 by Dr. Sophia E. Shanko, ShanX Medtech develops an In-Vitro Diagnostic (IVD) platform for antimicrobial susceptibility testing (AST).
- The system analyzes patient samples and generates results within about one hour, compared with the two to seven days required by conventional AST methods. It works by monitoring microbial metabolism using chemical assays, allowing clinicians to determine effective antibiotics more quickly.
Details of the deal
- The funding round was supported by equity investors including Borski Fund, NextGen Ventures, CbusineZ, BOM, Invest-NL, and a strategic angel fund, alongside government-backed Innovatiekrediet and an €8.85 million European Commission grant.
"Antimicrobial resistance represents one of the most critical unmet needs in global healthcare, with few effective solutions available today. ShanX Medtech introduces a highly innovative technology that contributes preventively to global health. As an early-stage investor, BOM is proud to take this next step alongside such a pioneering company," explains Paul Vernooij, Investment Manager at Brabant Development Agency (BOM).
- ShanX Medtech will use the fresh €24 million funding to complete the development, conduct clinical validation, obtain regulatory approval, and launch its ultra-rapid antimicrobial susceptibility testing (AST) platform commercially, enabling faster, evidence-based treatment decisions in both laboratory and point-of-care settings.
“This funding brings us significantly closer to delivering ultra-rapid AST directly to both laboratory and point-of-care environments; faster, simpler, and more accessible than ever before," said Dr. Sophia E. Shanko, Founder and CEO of ShanX Medtech.
