LOWELL, Mass.–(BUSINESS WIRE)–Biometry Inc. (myBiometry), an asthma and COPD diagnostic and remote monitoring company, announced that it has successfully raised $5 million in an oversubscribed Seed funding round. The round was led by Dexcom Ventures, with participation from CareSource Indiana, Elevate Ventures, and other investor groups. This funding will advance the development of the company’s fenoTRACK solution, a breakthrough device designed to empower asthma and COPD patients by providing data to enable early detection of exacerbations.
“We’re excited to partner with Dexcom Ventures and CareSource as we near the milestone of submitting fenoTRACK for regulatory clearance,” said Bryan Nolan, CEO of myBiometry. “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.”
Asthma and COPD impact over 500 million patients globally and 41 million in the US. Exacerbations, or attacks, occur in approximately 40-50% of patients annually leading to millions of ER visits and hospitalizations each year in the US alone.1-5 Frequent attacks can lead to progressive loss of lung function, permanent airway remodeling, and in COPD, death.6-8 Type 2 inflammation is the underlying driver in 80% of patients with asthma and 30-40% of patients with COPD.9-12
fenoTRACK is a portable, non-invasive breath test that measures type 2 airway inflammation via fractional exhaled nitric oxide (FeNO). FeNO data helps identify patients at risk of an exacerbation and tailoring therapy based on FeNO data reduces the risk of exacerbation by 38-50% in adults and children respectively.13-15
“The impact of asthma and other lung diseases on the health and wellbeing of our members of all ages cannot be overstated,” said Steve Smitherman, Regional Vice President, Midwest, at CareSource. “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.”
“We are thrilled to announce our investment in MyBiometry,” said Jason Halac, Senior Director from Dexcom Ventures. “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.”
myBiometry is currently focused on completing the development of fenoTRACK and preparing for its regulatory submission.
About myBiometry
myBiometry’s vision is to empower people with asthma and COPD to live healthier lives by providing them with proactive and actionable data to prevent attacks at home. The company’s focus is using data for the early detection of asthma and COPD exacerbations up to 20 days in advance using intelligent diagnostics and connected monitoring. Headquartered in Massachusetts, with operations in Indiana, myBiometry is at the forefront of transforming respiratory care for chronic disease patients. myBiometry’s products are currently in development and have not yet been cleared by the FDA.
For more information, please visit www.mybiometry.com.
About Dexcom Ventures
Dexcom Ventures builds upon the foundation of excellence established by Dexcom, a leader in diabetes care technology. The venture arm focuses on investing in transformational technology platforms related to chronic disease management.
For more information, visit www.dexcomventures.com.
About CareSource Indiana
CareSource Indiana is a nonprofit, nationally recognized managed care organization serving over 2 million members. Since its inception in 1989, CareSource has managed one of the largest Medicaid programs in the U.S. The organization is committed to improving healthcare through initiatives focused on social determinants of health, health equity, and expanding access to care.
For more information, visit www.caresource.com/in/plans.
