Micro-biotech Firm NanoMR Announces Series B For $13Mil
NanoMR May Save Lives
NanoMR Inc. based in Albuquerque, New Mexico announced on Monday that it has received $13 million in Series B financing. New investors Excel Venture Management and Healthcare Ventures led the round, and existing backers Dow Chemical, vSpring Capital and Sun Mountain Capital all participated.
NanoMR CEO Victor Esch was quoted in the official press release, speaking about where the funding will be most helpful – “We are extremely excited to partner with Excel and Healthcare Ventures to advance our development of diagnostic products for the clinical microbiology market.”
Specifically, the funding will be applied to producing commercial grade medical instruments for micro-biology clinics, performing NanoMR’s own pre-launch requisite clinical tests on instruments, and product launch preperation.
Mr. Esch went on to describe how the new team of investors can propel NanoMR – “Our new investors have great expertise in helping to transform new technology advances into leading edge health care companies.”
The lions share of the company’s work in micro-biology is in bloodstream infections, a potentially deadly affliction. 250,000 deaths a year , many of them preventable, are ascribed to these infections.
The key is in isolating pathogens, which has in the past been a time consuming proposition. This is critical in handling the infection because examining the pathogens is what leads to an early diagnosis.
NanoMR’s technology is said to reduce to under 2 hours what previously would have taken at least 48 hrs to determine. The time saver aspired to will almost certainly be a future life-saver for many. The possibility remains that such technology can save hundreds of thousands of patients and many millions in hospital costs.
