diagnostic testing

The pharma giant will also pay $55 million to fund the point-of-care diagnostics platform until the acquisition closes, which is expected to occur by mid-2024.

PreciseMDX said its new platform would allow for easier scheduling, care coordination and results reporting.

The new capital will be used to accelerate Cue’s growth.   

The Cue Health Monitoring System can deliver its results through a smartphone dashboard, and is intended for use by health professionals and consumers alike.

The startup, which specializes in a range of at-home testing kits, so far only offers a COVID-19 testing product for point-of-care providers.

Nurx, Carbon Health and Everlywell have officially halted their mail-order testing-kit services. But at least one startup is still moving to secure an Emergency Use Authorization for its at-home rapid serology diagnostic.

[Since this article was published, the FDA has released an alert warning that it has not yet authorized any COVID-19 home testing kits]