Israeli startup Salignostics, the developer and provider of rapid saliva-based tests for the early detection of pregnancy, as well as COVID-19, cardiac risk, malaria, and other diseases, has closed an $8 million Series A financing round from private investors headed by angel investor Avigdor Orlinsky.
The company has raised a total of $16 million to date. The capital raised will support development, commercialization, and marketing efforts of the tests in Israel and overseas. It will also support the launch of a new plant that is currently under construction in the Lavon Industrial Zone in the Northern Israel.
Salignostics was founded in 2016 by a team of researchers at the Hebrew University of Jerusalem, who have many years’ experience in cracking the secrets of saliva: Professor Aaron Palmon, a world-class researcher in saliva, and currently head of the Authority of Research Students in Experimental Sciences at the Hebrew University; Dr. Omer Deutsch, who serves as CEO; Dr. Guy Krief, who serves as Deputy CEO and Director of Business Development; Dr. Raluca Cohen, who serves as Chief Scientific Officer; and Dr. Yoav Neumann, who serves as Senior Researcher.
Following years of scientific research in saliva, the five founders began commercializing their intellectual property and developed user-friendly products to accurately detect a range of physiological conditions including pregnancy and COVID-19 on the basis of simple saliva samples. Among other things, the company developed products to detect malaria, cardiac risk, Helicobacter pylori and other diseases. During development of the tests, the company raised pre-seed and seed capital from private investors and received four grants from the Israel Innovation Authority.
Salignostics’ kits provide home tests by means of a simple saliva test that takes only a few minutes. The company’s technology relies on breakthrough scientific capabilities in rapid diagnostic tests by individuals, based on decades of research.
The proprietary knowledge of Salignostics’ founders enabled the company to recently develop and supply SaliCov – a compact and accurate self-test kit for diagnosing COVID-19. The kit has obtained Medical Devices and Accessories (AMAR) approval from Israel’s Ministry of Health for institutional Point of Care use, European CE-IVD approval to market the kit across the European Union, and a prestigious RADx (Rapid Acceleration of Diagnostics Initiative for COVID-19) grant financed by the US National Institutes of Health (NIH).
Pilots of the SaliCov test by the company demonstrated its efficiency in outbreak prevention by breaking the infection chain in the earliest stages of the disease at educational and community centers across Israel. The product is currently in use in Spain, and the company recently signed agreements for large-scale purchases with parties in other countries.
Another flagship product is SaliStick – the world’s first rapid saliva-based pregnancy test kit. The kit has obtained European CE certification and Medical Devices and Accessories approval from Israel’s Ministry of Health. It was presented at the Medica 2021 Trade Fair in Germany, where it attracted attention from the global media and visitors.
Dr. Omer Deutsch, co-founder and CEO of Salignostics, says: “The capital raised will enable us to leverage the full business potential of our proprietary platform, and benefit from the strong pending demand. The platform sets a new and breakthrough standard for rapid tests in general and saliva-based tests in particular. The future diagnostics world will become increasingly accessible to personal and home use, which can be done anywhere by anyone. Salignostics’ technology realizes this vision.”