Indianapolis-based FAST Diagnostics has received a second round of funding from BioCrossroads’ Indiana Seed Fund.
The $150,000 will help FAST refine its tool to treat acute kidney injury and to prepare for large, preclinical studies.
Previously, the $6 million BioCrossroads fund invested $380,000 toward initial commercialization efforts.
“The lackluster capital market has proven to be a challenge,” said Joe Muldoon, FAST’s CEO.
BioCrossroads CEO David Johnson said FAST has continued to meet key milestones and has successfully built partnerships with other companies and with colleges, including Rose-Hulman Institute of Technology, Indiana University and Purdue University.
FAST has been buoyed by additional funding, including $200,000 from the Purdue Research Foundation and a $1.1 million grant from the National Institutes of Health.