Proof Diagnostics
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Proof Diagnostics was a Cambridge, Massachusetts-based biotech founded in May 2020 by CRISPR pioneer Feng Zhang, MIT scientists Omar Abudayyeh and Jonathan Gootenberg, and entrepreneur Sid Shenai (CEO). It developed a fast, low-cost CRISPR-based point-of-care molecular test for COVID-19: the Proof Lab Test System aimed to be the first CRISPR-based nucleic acid detection test at the point of care, delivering lab-quality results in under 20 minutes. It licensed the STOPCovid technology from the Broad Institute, submitted an FDA Emergency Use Authorization request in 2022, and raised $45 million from ARCH Venture Partners, F-Prime Capital and Madrona, with support from NIH's RADx, DARPA and the Gates Foundation.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
Founded in May 2020 to combat the COVID-19 pandemic; licensed STOPCovid CRISPR technology from the Broad Institute.
- FDA EUA submission
Submitted an Emergency Use Authorization request to the FDA for its point-of-care CRISPR-based COVID-19 test.
- Acquired by Ginkgo Bioworks
On February 28, 2024, Ginkgo Bioworks announced it was acquiring Proof Diagnostics (terms undisclosed), mainly for its OMEGA DNA-cutting enzyme libraries and associated IP to support genetic-medicine work.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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