MELBOURNE, Australia and SAN DIEGO, Sept. 8, 2022 /PRNewswire/ -- Global MedTech start-up Nutromics has raised an additional US $14 million for its wearable diagnostic platform. This transformative funding is key to Nutromics' continued expansion across Australia and the United States. Strategic investors included Dexcom Ventures, VU Venture Partners, and Artesian Investments.
This funding demonstrates a resounding level of investor confidence in the potential of Nutromics' technology, which will tackle some of healthcare's most challenging conditions through the power of continuous diagnostic monitoring. Nutromics plans to raise significantly more funding in 2023 following in-vivo clinical studies.
"We are aiming to cause a paradigm shift in diagnostic healthcare by essentially developing a lab-on-a-patch. A lack of timely and continuous diagnostic insights can strongly impact outcomes when dealing with critical disease states. With this strategic industry and VC investment in us, we see more confidence in our technology and hope to accelerate our growth, as the need for our platform in the lab diagnostic space is urgent", said Nutromics' co-founder and CEO Peter Vranes.
Nutromics is developing a wearable diagnostic platform that uses DNA technology to enable tracking for multiple targets in the human body using a single patch. This is the first technology of its kind that is both a platform and proven to work on-body. The DNA sensor technology will provide clinicians and patients with continuous and real-time diagnostic information ranging from hard-to-dose drugs, like vancomycin, to biological markers for conditions such as kidney disease.
Nutromics was founded in 2017 and including this recent acceleration round has raised over US$20 million to date for its ground-breaking wearable diagnostic platform. This latest round of funding will support an expansion of clinical studies, expansion of R&D team and investment across both Australian and United States hubs.
The company's exponential growth over the last year, along with this latest round of funding brings Nutromics one step closer to realizing their vision of a world with zero preventable deaths.
Founded in 2017 by Peter Vranes (CEO) and Hitesh Mehta (COO), Nutromics is on a mission to revolutionize healthcare through continuous diagnostic monitoring, with a vision for a world with zero preventable deaths through personalized and timely diagnostic insights.
Nutromics is developing a wearable diagnostic platform combining microneedles that provide pain-free access to interstitial fluid, just under the skin, and DNA sensor technology.
Nutromics will complete world-first in-human clinical studies of its first DNA sensors in 2022, as well as its integrated alpha prototype device.