Quorum X Diagnostics

Quorum X Diagnostics

Early Stage

Rapid at-home test for COVID antigen Test

Rapid at-home test for COVID antigen Test

Overview

Raised this Round: Raised: $206,921

Total Commitments ($USD)

Platform

Wefunder

Start Date

05/28/2020

Close Date

12/04/2020

Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$2,750,000

Discount

25%

Year Founded

2017

Industry

Healthcare & Pharmaceuticals

Tech Sector

Biotech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

Tucker, Georgia

Business Type

Growth

Quorum X Diagnostics, with a $3 million valuation cap, is raising crowdfunding on Wefunder. The company is developing a take-home lateral flow test to detect CoV-2 during the incubation period. The test will allow the detection of COVID even before the onset of symptoms. The company has already used the same technology to build QXD-1 Fast Test for Pseudomonal Pneumonia Prototype. Quorum X Diagnostics was founded by Maria Nagy and Dr. Angel A. Rivera in 2017 and has raised over $66,000 since its founding. The current round of crowdfunding has a minimum raise of $50,000 and a maximum raise of $250,000, and the funds will be used for manufacturing, testing patient samples, hiring nurses, FDA application, and app development. Quorum X Diagnostics is filling an opportunity gap in the market and catering to the global need of a quick test for COVID.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$415

$415

 

 

Net Income

$-34,500

$-22,200

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$0

$0

Accounts Receivable

$0

$0

Total Assets

$500

$500

Short-Term Debt

$35,000

$22,700

Long-Term Debt

$0

$0

Total Liabilities

$35,000

$22,700

Financials as of: 05/28/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Quorum X Diagnostics 04/29/2022 Wefunder $25,000,000 $0 SAFE Not Funded RegCF
Quorum X Diagnostics 12/03/2020 Wefunder $2,750,000 $206,921 SAFE Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Founder Profile

Dr. Maria Nagy Talks At-Home Antigen Tests for COVID-19

As all eyes are on vaccines and testing for COVD-19, Quorum X Diagnostics pivoted from working on a Fast Test for Pseudomonal Pneumonia. Now, under the leadership of Dr. Maria Nagy, the team is working to bring to market an at-home COVID-19 antigen test. To make this possible, the team is currently raising funds via Wefunder.

 

We sat down with Maria to learn more about how she plans to allocate funds, who makes up her impressive team, and more-

Read Founder Interview

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Quorum X Diagnostics on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $2,750,000

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