Biotia raised an oversubscribed $9 million financing to expand its clinical metagenomics diagnostics platform across women’s health and orthopedics. The financing exceeds Biotia’s previously announced Series A.
The company plans to use the capital to expand its New York City laboratory, launch additional women’s health diagnostics, pursue reimbursement, and enter orthopedic diagnostics.
Biotia develops diagnostics that combine pathogen genomics and artificial intelligence for chronic and difficult-to-diagnose infections.
Its flagship BIOTIA-ID Urine Test is designed for recurrent and complicated urinary tract infections.
The company reports that the test has 97% sensitivity and 99% specificity and is available in all 50 states.
Biotia also expanded its board and advisory group alongside the financing.
Michele Colucci, CEO of DigitalDx Ventures, was named Board Chair.
VillageMD co-founder Tim Barry joined as a board member.
VillageMD co-founder Clive Fields joined as a board observer.
Additional advisers include Angelish Kumar, Lesley Northrop, and Catherine Balsam-Schwaber.
Barry and Fields also participated in the financing.
Other investors included Convergent Ventures, DigitalDx Ventures, Cloquet Capital Partners, Continuum Health Ventures, I-Lab Angels, EGB Capital, Leawood Venture Capital, Red Bear Angels, Red Bear Ventures, and others.
KEY QUOTES:
“This funding enables us to do what matters most: expand advanced diagnostics available for patients suffering from chronic infections who have been failed by standard laboratory methods.”
Niamh O’Hara, Ph.D., CEO and Co-Founder of Biotia
“Diagnostics are the foundation of better patient care, since you cannot manage what you cannot accurately measure.”
Tim Barry, Board Member at Biotia
“Their experience and perspective will be invaluable to accelerate our next phase of growth, expand our diagnostic applications to new markets, and help more patients.”
Chris Mason, Ph.D., Global Director and Co-Founder of Biotia
