Precision medicine biotechnology company for
obesity secures additional institutional capital from prominent
industry leaders to expand the use of its novel phenotyping test
and advance clinical research in weight loss treatment.
MENLO
PARK, Calif., May 16, 2024
/PRNewswire/ -- 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).
"As leaders in their respective fields of lab testing and
patient empowerment, we are excited to add DexCom and Labcorp as
investors as we continue to scale our company. In addition, Labcorp
will provide laboratory testing services," said Mark Bagnall, CEO of Phenomix. "After more than
a decade of research from our founders, we are thrilled the wider
industry is also seeing the need to treat the obesity epidemic
seriously with clinically focused solutions. The substantial
financial backing for Phenomix's clinically validated precision
obesity programs from prominent companies in the health industry
underscores the importance precision medicine is poised to have on
combating obesity."
This capital will accelerate the commercialization and adoption
of the MyPhenome™ test in the obesity specialist market and
the wider industry. The MyPhenome test equips physicians
with essential tools to develop effective treatment plans including
lifestyle and diet intervention as well as medication and/or
procedure recommendations. The MyPhenome test identifies
obesity phenotypes, subtypes of the disease caused by the
interaction of a patient's genes and the environment. These
phenotypes include Hungry Gut, Hungry Brain and Emotional Hunger.
As demonstrated by Phenomix's co-founders and Mayo Clinic
physicians, Andres Acosta, M.D.
Ph.D. and Michael Camilleri, M.D.
D.Sc., obesity phenotypes help explain why people exhibit varying
responses to different treatments.
The funds will also enable the company to develop and launch
additional phenotyping tests, continue to support clinical studies
and patent novel insights, and further strategic relationships with
pharmaceutical companies and health care providers.
The SBIR grant allows the company to perform additional clinical
studies demonstrating the value of obesity precision medicine. The
sizable award from the NIH is a testament to the importance of this
work on the future of obesity treatment as well as the esteemed
reputation of Phenomix's founders and significance of their prior
studies. Specifically, the grant will fund a prospective study of
the MyPhenome test and further prove its accuracy in
predicting obesity treatment response.
The company recently launched its new three-in-one
MyPhenome obesity phenotyping test,, including
Hungry Gut, Hungry Brain and Emotional Hunger, currently in use by
U.S. providers. For more information, visit
www.phenomixsciences.com.
About Phenomix Sciences
Phenomix Sciences is a
precision obesity biotechnology company on a mission to conquer
obesity globally through the use of our proprietary genetic tests,
unique data sets, and advanced analytics. Mayo Clinic physicians,
scientists, and researchers, Andres
Acosta, M.D. Ph.D., and Michael
Camilleri, M.D. D.Sc., founded the company after 10 years of
rigorous clinical research focused on uncovering the
pathophysiology behind the variability in response to obesity
treatments. Phenomix believes that the key to understanding obesity
is its unprecedented access to clinical and molecular information
throughout all stages and phenotypes of the disease. Phenomix
leverages data intelligence for yielding better accuracy in
predicting individual patient response to specific weight loss
interventions and reducing the variability in weight loss results
for patients. For more information, please visit
www.phenomixsciences.com.
Media Contact:
phenomix@ampublicrelations.com
View original
content:https://www.prnewswire.com/news-releases/phenomix-sciences-raises-7-8m-in-funding-to-accelerate-adoption-of-obesity-precision-medicine-302147213.html
SOURCE Phenomix Sciences