Histolix has closed its initial SAFE note, the funds of which will be utilized to conduct an equivalency validation over multiple tissue types with expert third party read. The study is expected to be completed by the fourth quarter 2021 at which time we will set the valuation of our upcoming A round. A secondary bridge of approximately $500K will be sourced coming into the A round.
"The Histolix technology heralds a radically new approach to the preparation of the images required by pathologists to interpret biopsy specimens. Since its origins in the 19th century, pathology has been constrained by a laborious and time consuming process of fixation, dehydration, paraffinization, rehydration and staining requiring skilled technologists and expensive equipment. Histolix technology promises to dramatically reduce the time required to prepare these images, and simultaneously permit a direct-to-digital pathologic evaluation framework, enabling pathology to emulate radiology in rapid evaluation and dissemination of biopsy findings. Histolix makes preparation of digital images suitable for pathologic evaluation accessible to a wide range of users, including satellite lab facilities, veterinary laboratories, and resource constrained laboratories all over the world."