Diagnostics is integral part of patient care , what is hampering its growth is, cost and time that goes in executing the test. Developments lately both from innovators and startups are turning the tables around. Few of those startups who have gained limelight for their work include Theranos and Genalyte. While former had gained good coverage in the past, latter is catching up to the lost time, as it recently closes USD 44 million funding round from Khosla Ventures.
Activity focus around diagnostics in office came after a year hype created by Theranos. Post which a lot of developments focused around point care surfaced up but were not able to deliver the combined package that healthcare parties were looking for.
Genalyte will use the fund for commercialization of its test , a 20 assay panel capable of giving results in a short span of 15 min. Series C round closure gives company an opportunity to take product a notch above by gathering more test data around device’s functionality.
Funding to platforms similar to Theranos, Genalyte are getting increased attention of VCs primarily because these platforms behold enormous potential to address the need of the hour , which is streamlined diagnostic procedures that fetch quicker results at cheaper rates. Further technology like these reduce the quantity requirement of blood sample, constant chase with labs to set up appointment, and hassle of reaching to physicians for result comprehension.
The need of platforms similar to Genalyte’s maverick platform creates an ecosystem which has timely access to diagnostics and healthcare data , post combining this with computational tools, insights generated will help HCPs take more calculated decision on their patient pool.
As we await more integrated solutions venture into healthcare, start ups like Theranos, Genalyte and others carve that picture for us through their innovative packages.
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