Spirometrix, which is developing a hand-held device to diagnose and manage asthma, raised $17.4 million in a Series C round, bringing its total funding to $29 million.
 |
| Spirometrix CEO J. Dean Zikria |
The Pleasanton, CA-based company will use the funding to advance the commercialization of the product, Fenom Pro, which measures nitric oxide content in exhaled breath (FeNO), a biomarker of asthma.
The device is comprised of several sensors and a "digital ecosystem" that includes data from other devices and the environment, spanning air quality, pollen count and local pollution index, according to the statement. The digital ecosystem allows algorithmic analysis, which can result in pattern recognition and feedback that could help manage these patterns in asthma patients.
The breathalyzer is intended for use by asthma patients at home. Using the device at the point of care could improve drug compliance and reduce the need for emergency hospital visits and hospitalization, said Dr. James Wolfe, a scientific adviser to Spirometrix, in the statement. The device will be the first of its kind, CEO J. Dean Zikria said in the statement. The funding will support the U.S. and EU launches, which are expected within one year, Zikria said.
Shanghai Fosun Pharma led the round, while existing investors participated, including NGK Spark Plug, South Valley Angels and Ohio Innovation Foundation.
"Fosun's investment in Spirometrix is further evidence of the significant opportunity not only in the USA and EU but also in the growing Chinese market, for the use of our product and the data insights gained from over 20 million Chinese citizens who could potentially use our product," Zikria said.
Spirometrix isn't the only one working on ways to manage asthma. Researchers from North Carolina State University are developing a health and environment tracker to monitor factors that may trigger asthma attacks. They aim to create a wearable system that patients could use to avoid an attack without drugs by moving to a different environment. And Propeller is working on a smart inhaler to improve medication adherence.
- here's the statement