Sight Diagnostics raises $71m to boost commercial operations

7 August 2020 (Last Updated August 7th, 2020 11:24)

Israeli diagnostics company Sight Diagnostics has raised $71m in a Series D funding round to commercialise the global launch of finger-prick complete blood count (CBC) analyser.

Sight Diagnostics raises $71m to boost commercial operations
Sight OLO Hematology Analyser. Credit: Business Wire.

Israeli diagnostics company Sight Diagnostics has raised $71m in a Series D funding round to commercialise the global launch of finger-prick complete blood count (CBC) analyser.

The company’s Sight OLO analyser automates the identification and quantification of different blood cell types and anomalies.

It provides lab-grade CBC results by measuring 19 different blood parameters, using a fingerstick or a venous sample.

The company also intends to use the fund to expand its research and development (R&D) into the diagnosis of additional diseases, along with biomarkers for the detection of Covid-19 severity.

OLO blood analyser was granted clearance by the US Food and Drug Administration (FDA) in December last year.

Sight has secured contractual agreements with healthcare providers and distribution partners in the US to deploy 1,000 analysers in the next few years.

The funds raised will be also used to meet the demand, the company added.

Sight Diagnostics CEO and co-founder Yossi Pollak said: “This new investment will enable Sight to substantially expand our US footprint and help usher in a new era of AI-driven diagnostics for a myriad of diseases and health conditions.”

Sight created a database of over half a petabyte of blood imagery to optimise its existing diagnostic algorithms and to explore new algorithms for the early detection of serious health conditions, including cancer and blood factors, affecting the severity of the coronavirus disease.

Additionally, the company offers support for a range of treatments and therapies to pharmaceutical companies, including Pfizer.

With the latest funding round, the company has raised over $124m.

The funding round was joined by Koch Disruptive Technologies, Longliv Ventures and OurCrowd.

Koch Disruptive Technologies president Chase Koch said: “Not only is the company bringing truly innovative solutions to the blood diagnostics industry, but it is also driving a vision to decentralise information and increase consumer access in healthcare markets across the world.”