Precipio Diagnostics, LLC

Precipio Diagnostics, LLC specializes in developing innovative hematopathology diagnostic solutions to improve laboratory efficiency and accuracy in diagnosing various blood cancers. Precipio Diagnostics, LLC, founded in 2011 in New Haven, US, develops diagnostic products for blood cancers. The company received Series B funding of USD 1. 8 mn in October 2013, led by Connecticut Innovations along with Enhanced Capital, Ironwood Capital, and Kuzari Group.

The firm has completed three deals to date. Precipio Diagnostics focuses on proprietary hematopathology diagnostic products that enhance the accuracy and efficiency of diagnosing blood cancers, including myeloproliferative neoplasms, chronic myeloid leukemia, chronic lymphocytic leukemia, acute myeloid leukemia, and myelodysplastic syndromes. Their key offerings comprise molecular kits for detecting driver mutations and specialized culturing media for multi-cell lineage applications, aimed at improving laboratory workflows and diagnostic precision. Precipio generates revenue through the sale of diagnostic products and services to clinical laboratories and healthcare institutions.

Their flagship products include Bloodhound™ BCR-ABL1 and Bloodhound™ MPN panels, which are directly sold to labs for diagnostic testing. The company's distribution strategy involves partnerships with global networks to enhance market access for their diagnostic kits and services. Looking ahead, Precipio Diagnostics aims to expand its product offerings and enhance its market reach. The recent Series B financing of USD 1.

8 mn from October 2013 will be utilized to support the development of new diagnostic solutions. The company is also exploring opportunities to enter new geographic markets, with specific plans for expansion in Europe and Asia by 2025.