Oct 15 2015
Nanomedical Diagnostics, a biotech company developing and commercializing bioelectronics for use in research and diagnostics, announces the completion of a Series A financing round of $1.6 million led by Serra Ventures.
Nanomed's mission is providing low-cost, easy-to-use monitoring and diagnostic platforms that empower individuals to make informed personal health decisions. The funding round will enable the company to commercially release AGILE Research, its new label-free, quantitative, affordable research tool for small molecule and protein analysis. The company is also using the funds to lay the foundation for AGILE Lyme investigational product evaluation and market clearance.
"It's amazing how far we've progressed in our technology and product in only 20 months and with just the funds raised so far," says Nanomed CEO Ross Bundy. "Our current focus is finalizing AGILE Research product design, and we'll be evaluating its performance with the CDC and Stanford University this fall. We expect to launch the product early next year for commercial use to study proteins of interest."
The CDC and Nanomedical Diagnostics have entered into a Cooperative Research and Development Agreement to evaluate direct electronic detection of Borrelia burgdorferi antigens for a new Lyme disease diagnostic system. Lyme disease research is also a focal point in the Stanford collaboration.
"This company is applying a very novel and powerful technology to a current hot issue-- personalized healthcare," says CEO and President of Serra Ventures Tim Hoerr. "Nanomed has a bold, expansive vision, but the team has built interim products and revenue opportunities on the road to their end goal of putting information in people's hands to make educated health choices."
With the launch of AGILE Research in early 2016, Nanomed will be releasing the world's first commercial graphene biological field effect transistor (BioFET) sensor. By linking biology directly with electronics, AGILE Technology provides easier sample processing, portability, and cost efficiency, crucial features for personal health innovations.
For more information about Nanomed or AGILE Research, including pre-sale opportunities, visit www.nanomedicaldiagnostics.com. AGILE Research is slated to launch early 2016 for research use only, and it is not intended for clinical diagnostics.
Source: http://www.nanomedicaldiagnostics.com