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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Roche’s acquisition spree
Can you think of nano particles patrolling your body to trace cancer and other disease ailments. Particles which take diagnostic to a level way beyond any healthcare service provider could ever think of . We are not referring to hypothetical technology here, it is technology that Google X has set its eye on.
Real acknowledgement to phrase “technology from future”.
What Else Do We Know About This Device
This doesn’t stop here, they also have wearable with tiny magnets to monitor these nano particles. The thought, idea and prototypes are taking various checks at different levels, before commercialization.
Technical and Security Background
As of now market is aware of only few details such as nano particles are one thousandth size of red blood cells and data read & recorded by wearable will be licensed to other entities who would assure the data security and integrity.
We will close by saying; this technology which appears to be innovation that might look feasible 20 years from now will hit the market in 5 years time window. Google has never stopped surprising readers through its various innovation but this is something way too impressive.
Medical device trends
Image Source: http://bio-meme.com
No we are not kidding here. Biomeme(http://bio-meme.com), Philadelphia based startup has already developed a platform that can transform your mobile(Both Apple:https://www.apple.com and Android Based:https://www.google.co.in/) into a lab for disease diagnostics and disease surveillance. Device answers long standing problem of field based diagnostics in a way, that neither of us could ever imagine. Dreamit ventures (http://www.dreamitventures.com)has already pumped in 1.3 million USD into the company, with confidence on platforms future application beyond health care.Device contain docking system for real time qPCR, an app to control mobile system & analyze results and lastly kits for sample preparation and pathogen identification. Device can be used by anyone with no prior experience, does not require expensive PCR equipments and to top it all performs to gold standard used by all the leading central labs.
Price of the device is likely to be very reasonable and as per Techcrunch(http://techcrunch.com
) it would be around USD 1000. LOP (Lab on phone) would address multiple facets of healthcare , agriculture, vector surveillance, veterinary medicine and environment testing.
With everything and anything in health care getting portable and miniaturized, lab miniaturization was never part of anybodies thought process. Device has a great potential to cater to current and future need in DNA diagnostics, but going by 23andme(https://www.23andme.com/
) past with FDA, it would be too soon to commit on how the device will be perceived by regulatory bodies.Company claims that they would sell the device outside US to generate cash for ramping their R&D before going big in US.
We strongly vouch for this breakthrough on every aspect and would call it a shear brilliance on face of innovation.
Source: Crunch Base and Biomeme Website
Key Words: #Diagnostics #23andMe #Apple #Dreamit Ventures #Google