Truvian Health is announcing an injection of $74 million of capital to be used in part to secure US Food and Drug Administration (FDA) clearance for its blood testing platform. The latest funding round is co-led by Wittington Ventures and Great Point Ventures, with continuing strong support from existing investors, including DNS Capital, Medical Excellence Capital, Tao Capital, TYH Capital, and 7wireVentures.
Read also – [Funding News] Peak Energy Raises $55 Million Series A Funding
In the United States, approximately 50% of adults skip routine blood testing because it is overwhelmingly complex and friction-laden with prolonged turnaround times that result in delayed medical intervention or missed diagnoses leading to significant, avoidable costs to the US healthcare system. Truvian’s automated benchtop platform promises to change this by enabling simple, accurate, and comprehensive routine blood tests to be performed in clinics, doctor’s offices and pharmacies. Over the past twelve months, Truvian has presented data from multiple independent clinical studies demonstrating that results from its platform are equivalent to those produced in a central laboratory across a large panel of tests.
Read also – [Funding News] Cart.com Secures $105 Million in Debt Refinancing From BlackRock
As a part of the round, Shoppers Drug Mart, Canada’s largest pharmacy, joins Truvian as a commercial partner. “Working with our government partners, we believe in advancing technology to better support patient care, including comprehensive blood testing,” said Jeff Leger, president at Shoppers Drug Mart. “Truvian’s novel platform, combined with the convenience of accessing care in pharmacy, will be an amazing step forward in making care more accessible and convenient for patients.”
Late last year, Shoppers Drug Mart led an onsite evaluation of Truvian which compared results from Truvian’s platform to a traditional central laboratory. Results between Truvian and the central laboratory were concordant, emphasizing the potential utility of Truvian’s solution.
“These new investments and strategic partnerships further validate our goal to bring convenient, comprehensive testing to primary care, enabling patients and their doctors to make timely decisions affecting their health,” said Jay Srinivasan, chief executive officer of Truvian. “We are on the cusp of delivering what the world needs to counter today’s non-communicable disease burden and unsustainable healthcare costs.”
Truvian is the first company to share evidence that demonstrates a multi-modal platform can achieve clinical performance equivalent to the central laboratory across a large panel of tests with a single sample. To date, Truvian’s integrated platform has been evaluated on more than 50,000 samples across 5,000 donors while achieving a platform run reliability rate of greater than 98%. Truvian has also scaled its instrument and consumable manufacturing capabilities to initiate its clinical trials and early partner access programs.
About Truvian Health
Truvian is a transformational healthcare company bringing lab-accurate results anywhere you go, enabling patients to engage healthcare providers to lead healthier lives. With a focus on making routine blood testing accessible, convenient and transparent, Truvian is accelerating the transition to a sustainable healthcare ecosystem through its comprehensive benchtop solution that delivers timely, actionable results to help stop disease before it starts.
