Genalyt, a San Diego, CA based startup has raised $36 million in funding led by Khosla Ventures and Redmile Group to expand its one-drop blood test platform, Maverick™ Detection System.Founded in 2007, the Theranos competitor leverages proprietary silicon chip containing arrays of photonic microring sensors to simultaneously analyze multiple proteins/biomarkers from minimal sample volume, which can be utilized inside physician offices by offering laboratory test results in under 15 minutes.
In addition to expanding its Maverick platform, the company plans to prove its performance through additional clinical studies. Genalyte recently presented clinical abstracts for the Maverick platform demonstrating the feasibility of whole blood testing in a near patient setting for the Maverick™ Detection System at the American College of Rheumatology (ACR) Annual Meeting on November 12, including the results of two pilot studies incorporating the Maverick™ platform into rheumatology offices.
The combined studies tested more than 750 patients over a span of four months, comparing the real-time results of the Maverick™ with those of standard lab procedures and patient diagnosis.
“By moving laboratory testing to the near-patient setting, doctors and patients will have markedly reduced test turnaround times, and be empowered to make faster and more efficient decisions about treatment,” said Gunn. “We want to change the nature of the dialogue between patients and physicians regarding their test results. It’s simply unacceptable to have patients waiting days or weeks for important results we can deliver in minutes.”
After the rise and epic fall of Theranos , only time will tell if Genalyte can avoid similar pitfalls.