Boston-based myBiometry, which is developing a device to help patients with asthma and chronic obstructive pulmonary disease (COPD), has closed a $5 million seed round led by Dexcom Ventures. Other participants included CareSource Indiana and Elevate Ventures.
The company is pursuing regulatory approval for a portable device called fenoTRACK, which uses a simple non-invasive breath test to detect potential exacerbations of asthma attacks weeks before they could occur, “enabling clinicians to offer more personalized care and preventive interventions that lessen the burden on patients, caregivers, and healthcare payers.”
The device measures type 2 airway inflammation, which is believed to be a primary cause in 80% of asthma cases and 30%-40% of COPD cases, via fractional exhaled nitric oxide (FeNO).
“In a challenging fundraising environment, I’m incredibly proud to share that myBiometry has raised an oversubscribed seed round! Huge thanks to Jason Halac at Dexcom Ventures for leading this round and to our new partners at Dexcom and CareSource,” myBiometry founder and CEO Bryan Nolan said in a LinkedIn post. “This funding brings essential resources to advance our mission of providing asthma and COPD patients with critical, at-home health data.”
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Nolan has over two decades of healthcare experience, having developed and commercialized several new medical technologies. Before founding myBiometry, he held sales and marketing positions in Johnson & Johnson’s Medical Device and Diagnostics Division. Prior to J&J, he was a consultant at a startup. Nolan has a bachelor’s degree in business and computer science from Franklin & Marshall College.
Thomas Morgan, a chemist with over 12 years of expertise in sensor development, nanomaterials and coatings, serves as myBiometry’s chief scientific officer. Morgan received a Ph.D. in Chemistry from the Pennsylvania State University’s Eberly College of Science, and has worked with a broad range of industries including healthcare and biotechnology.
According to myBiometry, asthma and COPD impact over 41 million in the United States, and exacerbations in up to 50% of patients lead to millions of ER visits and hospitalizations each year. FeNO data, the company says, can not only help identify patients at risk but also help tailor therapy to reduce those risks.
