Funding will support the commercial launch of Selux’s Next-Generation Phenotyping rapid antimicrobial susceptibility testing platform.
ALEXANDRIA, Va. & BOSTON–(BUSINESS WIRE)– Oxford Finance LLC (“Oxford”), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, is announcing the closing of a $30 million senior secured term loan with Selux Diagnostic, Inc. (“Selux” or “the Company”), a Boston-based medical device company leading a new era in personalized diagnostics to combat superbug infections and fight antibiotic resistance.
Proceeds from the transaction will fund the commercialization of the Company’s Next-Generation Phenotyping (“NGP”) rapid antimicrobial susceptibility testing platform.
Selux is developing an NGP platform that promises to transform infectious disease patient treatment by dramatically increasing the speed and accuracy with which targeted, personalized antibiotic therapies can be prescribed. Earlier, better-informed treatment decisions will save lives, improve patient outcomes, decrease hospital lengths of stay and hospital-acquired infections, and help combat the global antibiotic resistance epidemic.
“Selux’s NGP platform is addressing the unmet needs in the global antibiotic resistance crisis by helping preserve antibiotics’ efficacy for future generations,” said Christopher A. Herr, senior managing director at Oxford. “We are pleased to be a capital provider to Selux and support its team of top scientists and engineers and their vision to transform infectious disease treatment.”
“This partnership with Oxford is the next step in fighting the global crisis of antibiotic resistance by establishing NGP rapid AST as the new standard,” said Steve Lufkin, CEO of Selux. “Selux is redefining speed to bring healthcare providers a personalized, same shift treatment for infectious disease patients.”
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. Since 2002, Oxford has originated approximately $9 billion in loans. Oxford is headquartered in Alexandria, Virginia, with additional offices in California (San Diego, Palo Alto, and Los Angeles), and the greater Boston and New York City metropolitan areas. For more information, visit www.oxfordfinance.com.
About Selux Diagnostics
Selux Diagnostics is transforming patient care by offering <24-hour personalized antimicrobial therapy results for all Infectious Diseases patients. This advance will save lives, shorten hospital stays, and combat the growing antibiotic resistance epidemic by decreasing the overuse of broad-spectrum agents. The 5-year-old company is based on the opposite side of Boston, MA, from where it originated in a co-founder’s attic. Learn more at www.seluxdx.com.
The Selux NGP Platform
Selux’s Next-Generation Phenotyping (NGP) platform provides rapid, high-throughput, fully automated AST results, enabling same-shift susceptibility testing of up to 50 antibiotics in parallel. The platform is driven by Selux’s proprietary technologies, which differentiate antibiotic-induced bacterial growth modes through the interplay of novel biochemical assays and cutting-edge artificial intelligence. Selux NGP provides virtually instantaneous AST results, fast-tracking targeted patient therapies so patients can receive the treatments they need on day one. Learn more at www.seluxdx.com.