LaunchCapital, CI invest $1.3M in Affinimark
Affinimark Technologies Inc., a New Haven, Conn., company that develops point-of-care tests for cerebrospinal leaks has received a $1,359,394 investment by the quasi-public agency Connecticut Innovations and LaunchCapital.
Affinimark has developed the Cerebrostrip, which the company says is an an easy-to-use test strip format to detect the presence of certain cerebrospinal fluid antigens in fluid taken from a surgical site or the site of a patient injury. It is designed to replace the current system in which a physician suspecting a cerebrospinal fluid leak collects a relatively large amount of fluid and sends it to a laboratory for testing, and then waits several days for the test results. The company plans to use the funds to complete the clinical and regulatory development of the test technology.
Connecticut Innovations invested $850,000 through its Eli Whitney Fund in the Series A round. Kevin Crowley, managing director, investments, for CI, will represent CI on Affinimark’s board.
LaunchCapital maintains offices in Boston, New Haven, Conn., and San Francisco.
A cerebrospinal fluid leak can result from traumatic head injuries, cranial or sinus surgeries, epidurals, combat wounds or other serious accidents impacting the spine or brain, according to Affinimark.