Bluejay Diagnostics, Inc. (NASDAQ: BJDX) has successfully closed a $4.5 million private placement to advance FDA approval activities for its rapid sepsis diagnostic technology. The medical diagnostics company announced on October 10, 2025, that it will use the net proceeds to fund clinical studies and regulatory activities for its Symphony System, a near-patient testing platform designed for critical care applications.
Funding Structure and Terms
The private placement involved the sale of 2,250,000 shares of common stock and Series F warrants to purchase up to 4,500,000 additional shares at a purchase price of $2.00 per share. The Series F warrants carry an exercise price of $1.75 per share, are exercisable immediately upon issuance, and expire five and one-half years from the date of issuance. Rodman and Renshaw LLC served as the exclusive placement agent for the offering.
Symphony System Technology
Bluejay's flagship technology centers on its Symphony System, a cost-effective, rapid testing platform specifically designed for sepsis triage and monitoring disease progression. The company's first product candidate, an IL-6 Test for sepsis, is engineered to provide accurate, reliable results in approximately 20 minutes from sample-to-result. This rapid turnaround time is designed to help medical professionals make earlier and better triage and treatment decisions in critical care settings.
Strategic Use of Proceeds
The company has outlined specific plans for the funding, with proceeds designated for matters related to obtaining FDA approval, including clinical studies required for regulatory submission. Additional funds will support other research and development activities and general working capital needs. This targeted approach reflects the company's focus on advancing its sepsis diagnostic technology through the regulatory approval process.
Market Position in Critical Care Diagnostics
Bluejay positions itself as a medical diagnostics company focused on improving patient outcomes through near-patient solutions for critical care. The Symphony System represents the company's approach to addressing the need for rapid, accurate diagnostic tools in time-sensitive medical situations where sepsis detection and monitoring are crucial for patient outcomes.
Regulatory and Securities Framework
The securities were offered through a private placement under Section 4(a)(2) of the Securities Act of 1933 and Regulation D. The company has agreed to file a resale registration statement covering the securities as part of a registration rights agreement with investors. The securities have not been registered under the Securities Act or applicable state securities laws.
