Martis Capital announced today a growth equity investment in DCN Dx, a lateral flow diagnostics developer based in Carlsbad, CA.
Charlie Mamrak will join the DCN Dx executive team as CEO. He was most recently the CEO of SeraCare Life Sciences.
“DCN Dx has established a track record of success by consistently solving its clients’ problems,” said Mamrak. “The team’s deep scientific expertise in lateral flow technology is unmatched in the industry.”
DCN Dx has been a leading provider of contract development services for clients seeking to explore, develop, and commercialize rapid diagnostic tests since 2006. The company supports an array of customers including global diagnostics manufacturers, nonprofits seeking tests for low-resource settings, and startups launching diagnostic-based products. Over the past 15 years, DCN Dx has successfully developed more than 100 rapid diagnostic tests for its customers.
“We’re proud of the support we’ve provided to our customers and the role we’ve played in developing their market-leading products,” said Brendan O’Farrell, Ph.D., DCN Dx’s president and cofounder. “Our clients’ products can be found in hospitals, homes, clinics, and other settings around the globe and have been used by millions of patients at the point of care. The funding from Martis Capital advances our mission and will help us expand our capabilities into the future.”
“DCN Dx is at the forefront of an exciting transformation in point-of-care diagnostics, especially given the challenges the world faces today,” said Owen Davis, a partner at Martis Capital. “Our partnership with DCN Dx will enable the company to accelerate its growth while allowing it to retain the distinctive features that have made it successful to date.”
Pegasus Capital and TM Capital advised on the transaction. Financial terms have not been disclosed.
About DCN Dx
Since its founding more than 15 years ago, DCN Dx has been committed to furthering the rapid diagnostic test market through the continued evolution of technologies and applications related to lateral flow assays. For more information about DCN Dx, visit dcndx.com.
About Martis Capital
Martis Capital is a private equity firm focused exclusively on the healthcare industry. The Martis team manages more than $1.2 billion of equity capital. It is currently investing out of its third fund. With offices in San Francisco, Calif., and Washington, DC, Martis seeks to invest in middle-market growth companies that provide innovative and cost-effective products and services within targeted segments of the North American healthcare services and information technology sub-sectors. For more information visit martiscapital.com.