Devices & Diagnostics, Diagnostics

Spectral Medical secures $10M for clinical trial looking to improve sepsis diagnostics

Sepsis is a difficult condition to accurately diagnose once symptoms appear. For this reason, Spectral Medical is taking recent funding to further development of its devices designed to detect endotoxin in the bloodstream.

Spectral Medical

Toronto-based Spectral Medical has secured a $10 million stock sale it plans to use to fund a clinical trial that will further a plan in development of its devices to better diagnose sepsis by identifying endotoxin in the bloodstream and removing it.

Endotoxin is a pathogenic released from cells that triggers sepsis, but it can also appear to be many other conditions – at this point it can sometimes be difficult to pinpoint. Spectral is planning to use the funding for its Euphrates study that is focused toward commercialization of its Toraymyxin device (PMX) and further study of its endotoxin active assay (EAA).

The company’s EAA is currently the only FDA cleared, CE marked rapid diagnostic for endotoxin activity in human whole blood.

Late last year Spectral inked a deal with Fresenius Medical Care to distribute its EAA device and Toraymyxin device in Germany, Denmark, Sweden, Finland, Norway, Poland, Hungary and the Czech Republic.

The Euphrates trial is expected to enroll roughly 446 patients, and it’s designed to compare the standard of care with treatment using the Toraymyxin device.

Photo: Screenshot via Spectral Medical