Health

Lab maker on a Nutromics patch reaches $14 million from Dexcom Ventures, others



Medtech Nutromics startup has received a $14 million investment from strategic investors, including Dexcom Ventures, VU Venture Partners and Artesian Investments.

Founded in 2017, the company is developing a continuous diagnostic monitoring platform called lab in a patch that uses DNA sensing technology to track multiple targets in the human body, including disease biomarkers and difficult-to-dosage drugs.

FOR WHAT

Based on a media release, the new funds will be used to further the company’s clinical research and expand its R&D team in Australia and the United States.

Nutrimics also revealed that it plans to raise “significantly more funding” next year following its in-vivo clinical studies.

TREND TO BIGGER WOMAN

The latest fundraising follows last year’s pre-market investment round, where Nutrimics raised 4 million dollars to build a manufacturing facility and conduct the first human clinical trial to provide patching services in the lab.

This brings its total investment since its inception to over $20 million.

In April of this year, the company named the former Abbott Labs executive Dr. Agim Beshiri was its first CMO. He is leading the medical research, management involvement, clinical development and hospital partnerships of Nutrimics.

ON PROFILE

“With this strategic industry and VC investment in us, we feel more confident in our technology and hope to accelerate our growth, as the demand for our platform in The diagnostic lab space is imperative,” said Nutromics CEO and co-founder Peter Vranes.



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