Biometry, an asthma and COPD diagnostic and remote monitoring company, announced that it has raised $5 million in an oversubscribed seed funding round. The funding round was led by Dexcom Ventures, with participation from CareSource Indiana, Elevate Ventures, and other investor groups.
This funding round will advance the development of the company’s fenoTRACK solution, a breakthrough device designed to enable asthma and COPD patients by providing data to detect exacerbations early.
Asthma and COPD impact 500+ million patients globally and 41 million in the US. Exacerbations, or attacks, occur in about 40% to 50% of patients annually leading to millions of ER visits and hospitalizations each year in the US. And frequent attacks can lead to progressive loss of lung function, permanent airway remodeling, and in COPD, death. Type 2 inflammation is the driver in 80% of patients with asthma and 30-40% of patients with COPD.
fenoTRACK is a portable and non-invasive breath test that measures type 2 airway inflammation via fractional exhaled nitric oxide (FeNO). And FeNO data helps identify patients at risk of an exacerbation and tailoring therapy based on FeNO data reduces the risk of exacerbation by 38% to 50% in adults and children respectively.
myBiometry is currently focused on completing the development of fenoTRACK and preparing for its regulatory submission.
KEY QUOTES:
“We’re excited to partner with Dexcom Ventures and CareSource as we near the milestone of submitting fenoTRACK for regulatory clearance. With enhanced at-home monitoring for asthma and COPD, we strive to identify attack risks sooner, enabling clinicians to offer more personalized care and preventive interventions that lessen the burden on patients, caregivers, and healthcare payers.”
– Bryan Nolan, CEO of myBiometry
“The impact of asthma and other lung diseases on the health and wellbeing of our members of all ages cannot be overstated. CareSource is constantly looking for new innovations that can help our members better manage chronic conditions, which is why we are enthusiastic about Biometry’s work and a proud investor.”
– Steve Smitherman, Regional Vice President, Midwest, at CareSource
“We are thrilled to announce our investment in MyBiometry. Their data driven sensing solution to address chronic diseases like asthma and COPD aligns with our mission to empower people to take control of their health.”
– Jason Halac, Senior Director from Dexcom Ventures
