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Photo: Donat Sorokin\TASS via Getty Images

Karius, a startup that tests for and identifies infectious diseases, has raised $165 million in a new funding round led by SoftBank's Vision Fund 2.

The big picture: Diagnosing infections is difficult and time-consuming, but Karius says its sequencing test makes the process easier and quicker because everything can be done from standard blood draws.

How it works: Hospitals pay $2,000 for every Karius test, which involves getting a patient's blood and shipping the samples to Karius' lab in California, said Karius CEO and co-founder Mickey Kertesz.

  • The test, which has some company-funded research, extracts a certain kind of DNA from the blood and tests it for 1,400 microbes. That differs from other companies that also test for pathogens from blood.
  • Karius then reports what the specific infection is within 24 hours, instead of spending days or weeks on multiple tests, and that informs doctors of what treatment to use.

Between the lines: Theranos has created a wave of skepticism with blood testing. But 100 hospitals already use the Karius test, and the company has been "very open about what we do" to hospitals and investors, Kertesz said.

  • He plans to use the new funding to conduct more clinical research of Karius' test, as well as develop its technology.
  • The money will also go toward a sales push to get more hospitals to use the test. He did not disclose revenues or test volume.
  • "Hospitals can save a lot of money and [improve] mortality, compared to what they would otherwise spend on invasive biopsies or extended stays in the ICU," Kertesz said.

Go deeper

CDC: Fully vaccinated people can gather indoors without masks

Photo: Filip Filipovic/Getty Images

People who have been fully vaccinated against COVID-19 can take fewer precautions in certain situations, including socializing indoors without masks when in the company of low-risk or other vaccinated individuals, according to guidance from the Centers for Disease Control and Prevention released Monday.

Why it matters: The report cites early evidence that suggests vaccinated people are less likely to have asymptomatic infection, and are potentially less likely to transmit the virus to other people. At the time of its publication, the CDC said the guidance would apply to about 10% of Americans.

Dan Primack, author of Pro Rata
40 mins ago - Economy & Business

Ripple CEO calls for clearer crypto regulations following SEC lawsuit

Illustration: Sarah Grillo/Axios

Ripple CEO Brad Garlinghouse tells "Axios on HBO" that if his company loses a lawsuit brought by the SEC, it would put the U.S. cryptocurrency industry at a competitive disadvantage.

Why it matters: Garlinghouse's comments may seem self-serving, but his call for clearer crypto rules is consistent with longstanding entreaties from other industry players.

Republican Sen. Roy Blunt will not seek re-election in 2022

Photo: Alex Wong/Getty Images

Sen. Roy Blunt (R-Mo.), widely seen as a member of the Republican establishment in Congress, will not run for re-election in 2022, he announced on Twitter Monday.

Why it matters: The 71-year-old senator is the No. 4-ranking Republican in the Senate, and the fifth GOP senator to announce he will not run for re-election in 2022 as the party faces questions about its post-Trump future.