Nanopath announced that it closed a Series A funding round to support its biosensing platform for diagnostics.
Cambridge, Massachusetts–based Nanopath intends to use the funds to back the development and commercialization of its platform that aims to transform how women’s pelvic and gynecologic infections are diagnosed. The company designed its novel approach to simultaneously characterize multiple pathogens with one test for faster, more precise diagnosis and treatment.
Nanopath’s proprietary biosensing technology uses ultrasensitive optical detection to identify DNAs and RNAs without the need for nucleic acid amplification. The approach minimizes reagents, lowers costs and reduces user steps while requiring minimal training to operate, making them accessible at the point of care.
According to a news release, Norwest Venture Partners and the Medtech Convergence Fund, a SV Health Investors venture fund, led the financing round. Gingerbread Capital and Green D Ventures participated, too.
“Nanopath’s mission is deeply rooted in improving women’s health and even more broadly, health equity for all. We envision Nanopath’s technology as the go-to platform for routine women’s health screening, allowing for clinically actionable diagnosis within a single office visit,” said Amogha Tadimety, co-founder and CEO of Nanopath. “With this funding, we’re looking to build our technical team and initiate commercial and clinical partnerships to bring our technology platform to market.”
The company aims to provide a test that can simultaneously detect multiple pathogens and reduce the delivery of test results from days to just 15 minutes.
Nanopath’s founders said they seek to improve the lives of women and other underserved populations.
“What we are building has the potential to holistically improve patient care by circumventing existing complex, expensive and time-consuming workflows, while simultaneously providing more granular health information,” said Alison Burklund, co-founder and CTO of Nanopath. “We started in the women’s health space because of the deep unmet need, and our desire as founders to bring a first-in-class diagnostic platform to a population that has been consistently overlooked.
“That said, our technology has the potential to be valuable in any situation where DNA or RNA detection is useful, including respiratory disease diagnosis, characterization of genetic risk factors, and even biosecurity surveillance and environmental monitoring.”
