Visby Medical, started by Israeli professor Adam de la Zerda, has raised about $55 million in a new funding round. This amount could go up to $65 million.
The funding round was led by Catalio Capital Management and included support from existing investors like ND Capital, Cedars-Sinai Medical Center, Blue Water Life Science Advisors, Pitango Ventures, and John Doerr. So far, Visby Medical has raised a total of $487 million.
The company makes quick home test kits that use PCR technology to help people check for health issues. They have a new test coming out later this year in the United States that can detect three common STIs in women.
“We invested in the company six years ago at relatively early stages. Visby is now in advanced commercial phases. It has developed a product that enables laboratory-quality PCR testing at home, including STI tests for women. Both are currently available in the U.S. What once required a lab visit and FDA approval can now be done at home with the same quality. Instead of going to a lab, users can receive a kit at home or buy one at a pharmacy. This puts the capabilities of cutting-edge labs directly in the hands of consumers. I expect these tests will reach Israel by 2026. The company’s founders have strong ties to Israel, so it will likely be a priority market.”
The new money will help Visby Medical quickly launch and share their recently approved at-home Women’s Sexual Health Test.
“This funding round will enable Visby to deliver on our vision of empowering consumers with reliable and lab-accurate health information from the comfort of their homes, starting with our at-home test for sexually transmitted infections for women,” said Dr. Adam de la Zerda, founder and CEO of Visby Medical.
Catalio Capital Management, a top healthcare investment company, will help Visby with its plan to bring the product to market. Isaac Ro, a partner at Catalio, will also join Visby’s board as an observer.
Chuck Alpuche, who has worked as a top executive at companies like Imperative Care, Insulet Corporation, and PepsiCo, has joined Visby Medical’s board as an independent director.
Visby Medical’s special technology can give accurate PCR test results in less than 30 minutes without needing any machines. The tests are small, single-use, and easy to use by hand.
Right now, Visby Medical offers FDA-approved tests for sexually transmitted infections (STIs) that can be used at clinics or at home and tests for respiratory diseases like COVID-19 and flu that are used in clinics.
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