Directing a child to set up a diagnostic test is one way to illustrate the ease of using a device. That’s the approach Biomeme took for its pitch on crowdfunding website AngeList. Biomeme co-founder Max Perelman’s cute-as-a-button 7-year-old daughter takes on the role of lab assistant.
The DreamIt Health Philadelphia graduate developed a test kit to identify the DNA or RNA signature of bacteria and viruses through blood, urine or saliva samples. The company raised about $1 million in a mix of debt and options, according to a Form D filing with the U.S. Securities and Exchange Commission, and received $400,000 from the Philadelphia area division of Ben Franklin Technology Partners, the economic investment arm for Pennsylvania.
Biomeme’s diagnostic kit involves a smartphone, app and docking station. It uses a mobile app to control the system and analyze results, and includes targeted test kits to prep samples and identify pathogens or diseases. Although the company sees several different applications, from home use to mobile clinics, pandemic surveillance and food testing, it’s still in the process of testing the diagnostics kit. It is planning a study with Drexel University College of Medicine to test sexually transmitted diseases, specifically gonorrhea.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Other healthcare startups to get funding from Ben Franklin Technology Partners’ Southeastern Pennsylvania office include:
CloudMine ($100,000): Another DreamIt Ventures grad, the company has a cloud-based HIPAA-compliant enterprise mobility platform to help its clients develop, test, deploy and manage their mobile applications. It counts pharmaceutical and healthcare companies among its clients. It has raised more than $1.5 million in follow-on funding from investors that include Robin Hood Ventures, Mid-Atlantic Angel Group Fund and MentorTech Ventures.
Gentis ($250,000): It received follow-on funding for its treatment for early-stage spine degeneration, DiscCell. It had previously received $500,000 from Ben Franklin.
United Preference ($200,000): It has developed an incentive-based administration and data analytics platform to implement, manage, and monitor health and wellness incentive programs.
X-Nav Technologies ($450,000): The medical device company is going after the dental market with a surgical navigation system for real-time, computer-assisted guidance during the dental implant process. It claims that its approach is less expensive and more accurate than the current standard of care.
