Nutromics raises $7.5 million as it weighs up potential factory locations

Wearable biosensor-based diagnostics company Nutromics has raised $7.5 million in an “acceleration round” led by an unnamed Australian life sciences investor.

In a statement on Tuesday, Nutromics said the funds brought the total amount of investment in the company to $60 million, as it progresses commercialisation of its lab-on-a-patch platform, integrating “DNA-based biosensors with microneedles and advanced analytics” for drug monitoring.  

Its first commercial focus for the invention is vancomycin, which it describes as “a potent and critical, yet difficult-to-dose antibiotic,” pursuing FDA approval in 2028. After this, the company intends to expand into broader clinical areas including sepsis, cardiology, triage and beyond. 

“Our world first clinical study, completed in 2024, showed successful results”, Nutromics CEO and co-founder Peter Vranes said in the update on Tuesday. 

“We’re now conducting ICU trials, a global first for this class of wearable diagnostics. We’ve significantly de-risked our first product, and this latest raise reflects growing investor confidence in our execution.” 

The statement adds that “[i]n parallel with its own clinical trials, Nutromics is engaging with pharmaceutical companies” on the technology to support new drug development, “providing research-use-only (RUO) wearable devices to support monitoring during drug trials, generating the first commercial revenue for the company.”

Nutromics said it intends to establish a “state-of-the-art manufacturing facility” to support continuing commercialisation. At the moment it is “considering Australian and offshore locations, subject to government and investor support.”

Nutromics was founded in 2017 by Vranes and Hitesh Mehta, the company’s COO.

Picture: supplied

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