Overview

General comments

Highlights

<aside> 💰 We surpassed our series A fundraising goal of $15M and our fundraising will officially close on July 4. We raised $16M and are finalizing diligence with a couple of investors in the next couple of weeks.

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• The SiPhox team is growing and we were able to attract some amazing new hires to lead and/or participate in software engineering, assay development and assay commercialization.

<aside> 🥅 Our company goals have been formalized into 12-month and 24-month milestones. From now on we’ll be reporting in our monthly updates on the progression towards those milestones.

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• The ‘Scaling Clinical Diagnostic Testing to the Masses’ podcast went live. Big thanks to Intel for organizing! Link below, very interesting if you want to better understand the vision for SiPhox Health we’re working towards.

  Scaling Clinical Diagnostic Testing to the Masses (Part 1) - MarketScale

<aside> 🛠 We’re at 15% of our assay development roadmap completed and now have ~450 distinct antibodies in stock.

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• We’re having good discussions with Levels around the cardiometabolic use case. This translated into a Levels-SiPhox podcast ‘the value of biosensing for preventive medicine’ (link below).

  #216 - The value of biosensing for preventive medicine | Michael Dubrovsky & Josh Clemente - Levels

• We found a low Coefficient of Variability (CV) set of conditions for our assays (<5%) which we’ll be using as a baseline to improve our other processes. On a technical/hardware level, this was the core effort in May and we’re continuing this in June.

• We’re making great progress on scaling up our in-house sensor chip and cartridge manufacturing working towards 5k cartridges per month while establishing more quality and process controls.

Asks

<aside> 🔊 We have two key positions we’re hiring for (see below). If you know someone who would be an excellent Chief of Staff (#2 to the CEO) in the Boston area, let them or us know. Open roles: Lead Microfluidics Engineer (director level)

Chief of Staff

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<aside> 🗞️ Techcrunch will be publishing an interview with us July 10th as part of our series A announcement. Please let us know how you might be able to help us amplify this PR and make the most of it.

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SiPhox 12-month and 24-month Goals

We’re introducing two new terms:

• Minimal Viable Milestones (MVM): these are the milestones we need to hit to approach a new set of investors and will be the complete focus of the company for the next 12 months. By itself they could be sufficient to raise our series B but at the minimum to raise a bridge round.
• End-of-Runway Milestones (ERM): these are the milestones we need to hit before we run out of cash. Even hitting one of them completely could be sufficient to raise our series B, but to guarantee the next round we need to hit all of them.