Mayo Clinic Startup Phenomix Sciences Initiates $1M Seed Funding Round
A Mayo Clinic startup focused on personalizing chronic disease treatment has launched its seed round of financing. The early stage startup company, Phenomix Sciences, is seeking $1 million so that it can commercialize its current core product: a new clinical test for obesity.
The test analyzes metabolomic and DNO biomarkers to determine what kind of obesity a patient has, and thereby result in more effective weight loss treatments.
The Mayo Clinic-developed method is a simple blood test that can identify the obesity sub-type or phenotype with over 90 percent accuracy, explains Dr. Andres Acosta, assistant professor at Mayo Clinic and founder of Phenomix, in a statement.
This is meant to be a much more efficient alternative to traditional methods, as they usually involve bringing a patient into a research center for several days of close monitoring and invasive examinations, and often result in less personalized treatments.
Phenomix asserts that several studies utilizing the blood test approach have been published already, with more ongoing to further add merit to the concept.
Commercialization of the obesity test would mark a step forward in Phenomix’s mission to better treat obesity – among other chronic diseases – on a more individual basis.
“Given the rate of obesity in the U.S. is over 40%, we believe our mission will resonate among the general public,” says Phenomix CEO Ross Higgins in prepared remarks. “We intend to raise approximately one million in financing through a convertible note to acquire key equipment for our CLIA laboratory and to build out our core team.”
Following the launch of the fundraising round, Phenomix expects its obesity test to be commercially available as a physician-ordered tool around late spring of 2019.