Olaris, a Framingham, MA-based precision medicine company leveraging metabolomics and machine learning for the discovery and development of its myOLARIS™ diagnostics products, received an investment from Labcorp, a global leader of innovative and comprehensive laboratory services, as part of Olaris’ Series-B1 financing.
Labcorp joined existing investors Robert Carpenter, Innospark Ventures, North Point Partner, Alumni Ventures, and new investor US Boston Growth Capital.
Labcorp’s investment and strategic collaboration will help accelerate the expansion of myOLARIS™ diagnostic products which use NMR detection of metabolites to transform how diseases are diagnosed and treated.
Led by Elizabeth O’Day, CEO, Olaris leverages its myOLARIS™ toolbox which combines metabolomics, machine learning and biology to uncover clinically impactful biomarkers.
The investment from Labcorp follows Olaris being granted a proprietary laboratory analysis (PLA) code by the American Medical Association for their myOLARIS™-KTdx. This test is a urine-based NMR test to provide immune status surveillance for kidney transplant recipients. This test will allow healthcare providers the ability to more accurately manage their post-transplant patients.
