Massachusetts-based biotechnology company Nanopath has secured $25 million in Series B financing, including $2 million in non-dilutive grant funding, to advance its molecular diagnostic platform focused on women's health. The investment will support clinical development, manufacturing expansion, and preparations for the commercial launch of its 15-minute point-of-care vaginitis assay.
Nanopath is developing a diagnostic technology based on plasmonic biosensing, an optical detection method that measures changes in light interactions with nanoscale metal structures when target molecules bind to sensors. The platform enables direct detection of genetic material without requiring the amplification process typically used in polymerase chain reaction (PCR) testing.
By eliminating this amplification step, the company aims to provide molecular diagnostic results within 15 minutes, potentially enabling healthcare professionals to identify infections and inform treatment decisions during a single clinical visit.
"We’ve spent years developing and pressure-testing a fundamentally new approach to molecular diagnostics for patients who have been overlooked for far too long," said Alison Burklund, Co-Founder and Co-CEO of Nanopath. "This funding brings us closer to the next and most important step – translating that innovation into meaningful clinical impact."
The financing will primarily support the initiation of Nanopath's FDA 510(k) clinical study for its vaginitis assay, alongside manufacturing scale-up and commercial launch preparations. The company also intends to expand its clinical and commercial teams to support regulatory development and market entry.
The latest investment follows several previous funding and regulatory milestones. In 2025, Nanopath received FDA Breakthrough Device designation for a separate diagnostic assay designed to rapidly detect infections in patients with suspected or elevated risk of complicated urinary tract infections.
In 2024, the company received $4 million in research grants, including $3 million from the National Institutes of Health and $1 million from the National Science Foundation, to support further platform development.
Nanopath previously raised $10 million in Series A financing in 2022. Its latest funding represents another step toward translating its optical biosensing technology into commercially available diagnostics, with an initial focus on improving access to rapid molecular testing in women's healthcare.
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