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Market size expected to reach $4.7 billion in 2027
CARLSBAD, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (NASDAQ: QLGN) (the “Company”)announced today they will be the first investors participating in the 2025 bridge round of funding for NanoSynex. NanoSynex will be raising up to $500,000.
“We are very excited to participate and be the first investors to commit in this round of funding for NanoSynex. The technology they are developing will help the world of Antimicrobial Susceptibility Testing (AST) by reducing the time required for tests in half, offering more robust diagnostics, which will lead to better use and not over use of the wrong antibiotics for patients globally. The Minimum Viable Product (MVP) System has numerous competitive advantages to existing tests and is priced competitively with those slower and less robust products.”, stated Kevin Richardson II, CEO of Qualigen. NanoSynex plans to be approved for the EU market in 2027 and US in 2028. The market size globally is expected to reach $4.7 billion by 2027. The US market alone is expected to reach $1.6 billion. NaoSynex also has a strong pipeline of other indications and verticals they can pursue with this technology. NanoSynex also has 4 patents protecting the technology.
Diane Abensur, CEO of NanoSynex, stated, “We are thrilled to have Qualigen’s involvement in being the first to commit to this bridge round funding. It will allow us to jump start our product development of our MVP system for AST, generation 2.0 . The need for our product and the lives we can help save by getting more timely and accurate robust diagnostics will help NanoSynex grow dramatically.”
ABOUT NANOSYNEX
NanoSynex is a MedTech company, based in Israel, that aims at providing new solutions to improve testing quality and reduce healthcare costs by speeding up diagnostic processes.
Today, NanoSynex is focused on the development and commercialization of a rapid innovative Antimicrobial Susceptibility Test (AST). The technology is based on a purely phenotypic approach and uses a microfluidic disposable test card platform and method that optimizes bacterial growth. This disruptive development was born from exciting research discoveries at the lab of Professor Shulamit Levenberg, former Dean of the Technion Institute of Technology – Biomedical Engineering Faculty.
NanoSynex’s team is composed of passionate, dedicated business executives, top-notch biomedical engineers and microbiologist team members and supported by a network of experts, including strategic alliances with future distributors, that know how to bring this revolutionary product to the market.