Phenomix Sciences, a Menlo Park, Calif.-based precision medicine biotechnology company that brings data intelligence to the treatment of obesity, raised $7.8m in funding.
The round included $5.5m in Series A funding from new investors DexCom, Inc. and Labcorp, and existing investors, including Health2047, as well as a $2.3m Phase II Small Business Innovation Research (SBIR) Grant through the National Institutes of Health (NIH).
This capital will accelerate the commercialization and adoption of the MyPhenome™ test in the obesity specialist market and the wider industry. The funds will also enable the company to develop and launch additional phenotyping tests, continue to support clinical studies and patent novel insights, and further strategic relationships with pharmaceutical companies and health care providers. The SBIR grant allows Phenomix to perform additional clinical studies demonstrating the value of obesity precision medicine. Specifically, the grant will fund a prospective study of the MyPhenome test and further prove its accuracy in predicting obesity treatment response.
Led by Mark Bagnall, CEO, Phenomix has developed the MyPhenome test, which equips physicians with essential tools to develop effective treatment plans including lifestyle and diet intervention as well as medication and/or procedure recommendations. The MyPhenome test identifies obesity phenotypes, subtypes of the disease caused by the interaction of a patient’s genes and the environment. These phenotypes include Hungry Gut, Hungry Brain and Emotional Hunger.
FinSMEs
16/05/2024