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Boston, MA - April 2, 2024 binx health a molecular point-of-care company, today announced the closing of its Series F financing to capitalize on current market momentum. The $65 million cash infusion includes equity, debt and expanded facilities to support commercial sales and high-volume manufacturing to meet market demand.

Having recently inked national partnerships with Fisher Healthcare, McKesson, Cardinal Health and Medline, the company has now signed multi-millions of dollars in forward contracts with clinics converting to the binx “test-and-treat” model for sexual health. With three manufacturing partners in place in China, Ireland and Germany, the binx io is the only FDA-cleared, CLIA-waived molecular diagnostics platform that can deliver laboratory-quality answers for chlamydia (CT) and gonorrhea (NG) in about thirty minutes for both men and women. With special expertise in the detection of targets in urine, binx continues to excel scientifically and clinically in ways that afford the broadest market reach.

“Having identified binx in 2021 as an early mover in an exceptionally large market for infection control, we’re thrilled to continue our support of the team through this high growth market phase,” said Andrew Goldman, Co-founder and Managing Partner of Hildred Capital. “The market reception to the company’s offering has been exceptional. It’s gratifying to see so many patients now getting the answers they need under a test-and-treat paradigm enabled by the binx io.”

“At EQT Life Sciences, we’ve supported so many companies poised to transform patient care,” said EQT Life Sciences Partner, JR Rothe. “Having been with binx almost since its founding, we’ve had the special privilege of watching the company achieve its goals, overcome obstacles, and now position itself as the market leader in its space. With tens of millions of people, mostly young people, in need of same-day test and treat, binx will be a force for a lot of good globally and we’re thrilled to be at their side through this next chapter of growth.”

“Doing great things in healthcare depends on so many stakeholders coming together enthusiastically to support a single goal: better patient care,” said binx Chief Executive Officer, Jeff Luber. “We’re fortunate at binx to have seen so many rally to the binx cause among clinicians, thought leaders, scientists, global manufacturing partners, employees and investors. Today’s fundraising will help us further expand our market reach and support our commercial partners in all they continue to do so well on behalf of patients everywhere.”

About binx health

binx health is a healthcare technology and diagnostics company that makes routine testing convenient and timely. The binx io point-of-care molecular platform is the first ever FDA-cleared, CLIA-waived point-of-care tool for the detection of chlamydia and gonorrhea in both males (urine) and females (vaginal swab) that provides central lab performance results in about thirty minutes. The platform is highly flexible, easy-to-use, and rapid, enabling single-visit test and treatment. For more information, visit www.binx.com

About Hildred Capital

Hildred Capital is a healthcare-focused private equity firm that specializes in operationally intensive, control-oriented investments in lower middle-market companies. Hildred partners with innovative and growth-oriented management teams to build high quality businesses. The Hildred team possesses extensive experience across the healthcare industry, and seeks to leverage its unique blend of strategic, financial, commercial and operational acumen to drive strategic growth and create value for its portfolio companies and investment partners. Hildred currently has more than $1.5 billion in assets under management.  For more information, please visit www.hildred.com and follow the firm on LinkedIn.

About EQT Life Sciences

EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.