What You Should Know:
– Nanopath Inc., a point-of-care diagnostics company enabling high-quality molecular testing in minutes, announced today that it was awarded $4 million in federal funding.
– The company was awarded a $3 million grant from the National Institutes of Health (NIH) and a $1 million grant from the National Science Foundation (NSF) to support continued research and development of the company’s point-of-care diagnostic platform for pelvic and gynecologic infections and diseases
Nanopath Secures Over $15 Million in Funding to Advance Women’s Health Diagnostics
Nanopath has been awarded two grants through the Small Business Innovation Research (SBIR) Program, a competitive and awards-based initiative designed to stimulate technological innovations developed by small businesses. These new grants increase the company’s total funding to over $15 million.
Nanopath is addressing well-documented disparities in women’s health, which is both underfunded and under-researched. The company is developing a novel diagnostic technology specifically designed to meet the needs of women, empowering them to take control of their health. Their low-cost, easy-to-use diagnostic platform aims to provide unparalleled access to clinically actionable molecular diagnostic information at the point-of-care.
The new funds will be used for core platform development, including the test consumable and readout instrumentation, as well as the analytical and clinical validation of their lead assay. Nanopath envisions this technology becoming the new standard of care for the characterization of pelvic and gynecologic infections.
Nanopath has already developed advanced prototypes of both its disposable test cartridge and benchtop readout instrument. The company is actively expanding its pipeline of test offerings through clinical collaborations with preeminent hospitals in New England.
Since raising a $10 million Series A in 2022, Nanopath has achieved several significant milestones. These include growing the team from 4 to 14 employees, receiving the 2022 American Association for Diagnostic and Laboratory Medicine (ADLM) Disruptive Technology Award, and having its founders recognized on the 2023 Forbes 30 Under 30 (Healthcare) list. Additionally, Nanopath introduced its Scientific Advisory Board, which is comprised of several influential scientists in the field of nanobiosensing.
“This funding is a tremendous vote of confidence in Nanopath’s ability to transform molecular diagnostics and enable providers to move away from the traditional view of disease-specific diagnostic testing, and towards patient-centric testing,” said Amogha Tadimety, Ph.D., co-founder and CEO of Nanopath. “The outcomes of this grant-funded work could lay the groundwork for a new era of clinically informative diagnostics at any site-of-care, changing the paradigm of women’s healthcare.”
