Pattern Bioscience, a leader in rapid diagnostic technologies for bacterial infections, has announced it has raised US$43 million in Series D financing. The round was led by AMR Action Fund, Illumina Ventures, and Omnimed Capital. The funding will support the completion of a US multi-center clinical trial and regulatory submission for the Pneumonia ID/AST Panel, designed to diagnose critically ill patients with suspected pneumonia. The panel has been granted Breakthrough Device Designation by the FDA and is supported by a BARDA contract valued at up to US$40.9 million.
Latham & Watkins LLP represented Pattern Bioscience in the transaction with a team led by Austin/Houston partner Scott Craig, with associates Kristine LaVeau, Luisa Gomez, and Regan Barney.
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