What You Should Know:
– Phenomix Sciences (Phenomix), a precision medicine biotechnology company that brings data intelligence to the treatment of obesity, has secured $5.5 million in Series A funding from new investors, DexCom, Inc. and Labcorp, and existing investors, including Health2047.
– The company has also been awarded a $2.3 million Phase II Small Business Innovation Research (SBIR) Grant through the National Institutes of Health (NIH).
Driving Precision Medicine in Obesity Treatment: Phenomix’s MyPhenome™ Test and Strategic Growth Initiatives
This infusion of capital will expedite the commercialization and uptake of the MyPhenome™ test within the obesity specialist market and broader industry. Equipping physicians with vital tools, the MyPhenome test facilitates the development of effective treatment strategies encompassing lifestyle adjustments, dietary interventions, and recommendations for medication or procedures. By identifying obesity phenotypes—variations of the condition influenced by the interplay of a patient’s genetics and environment—such as Hungry Gut, Hungry Brain, and Emotional Hunger, the test elucidates why individuals respond differently to various treatments, as illustrated by Phenomix’s co-founders and Mayo Clinic physicians, Andres Acosta, M.D., Ph.D., and Michael Camilleri, M.D., D.Sc.
Furthermore, these funds will empower the company to expand its portfolio by developing and launching additional phenotyping tests, sustaining clinical research endeavors, securing patents for innovative findings, and nurturing strategic collaborations with pharmaceutical firms and healthcare providers.
The SBIR grant offers the company the opportunity to conduct further clinical investigations showcasing the value of precision medicine in obesity management. This substantial award from the NIH underscores the significance of Phenomix’s endeavors in shaping the future of obesity treatment and highlights the esteemed reputation of its founders, along with the importance of their previous research. Specifically, the grant will support a prospective study validating the accuracy of the MyPhenome test in predicting responses to obesity treatments.
Recently, the company introduced its new three-in-one MyPhenome obesity phenotyping test, which encompasses Hungry Gut, Hungry Brain, and Emotional Hunger, currently utilized by providers across the United States.
