Nutromics raises US14 million for wearable patch

Medical wearables device developer Nutromics has raised US$14 million in new funding to further develop its wearable patch device which continuously monitors dietary biomarkers, helping patients ensure they receive the correct dosage of the common life-saving antibiotic called vancomycin.

Typically 60 per cent of administered doses of vancomycin are not in the therapeutic range and Nutromics hopes its wearable patch will eliminate preventable complications such as acute kidney injury.

This latest round of funding will support an expansion of clinical studies, expansion of the R&D team and investment across both its Australian and United States hubs.

Nutromics has raised a total of $20 million in five years, and plans to raise significantly more funding in 2023 following in-vivo clinical studies.

It is also one of the first companies in the world to focus on tracking multiple diagnostic targets using a single patch which combines DNA sensors on coated microneedles.

Peter Vranes, CEO Peter Vranes said: “We are aiming to cause a paradigm shift in diagnostic healthcare by essentially developing a lab-on-a-patch.

“A lack of timely and continuous diagnostic insights can strongly impact outcomes when dealing with critical disease states.

“With this strategic industry and VC investment in us, we see more confidence in our technology and hope to accelerate our growth, as the need for our platform in the lab diagnostic space is urgent.”

Vranes said that with this funding Nutromics was one step closer to solving unmet clinical needs in the deadliest disease states.

Picture: Nutromics