New Zealand startup DNAiTECH, which has developed instant diagnostic tests that don’t need a lab, has raised NZ$1 million (A$910k) in a pre-Seed round led by Sprout Agritech.
It’s Sprout’s 10th investment alongside partners Finistere Ventures in the US, NZ dairy goliath Fonterra and venture builder OurCrowd, as well as the Te Pokapū Auaha Callaghan Innovation’s Deep Tech Incubator programme, which supports commercialisation in early-stage NZ deep tech startups
Callaghan Innovation has also provided a NZ$750,000 loan.
The capital will be used to refine an initial product, further R&D and field trials as the Auckland startup gears up for commercialisation.
DNAiTECH cofounder Murray Broom said the world-first technology can identify a broad spectrum of animal and human diseases, including Johne’s disease in cattle and measles in humans, at the point of care, so clinicians can make faster treatment decisions.
“Diseases like Johne’s in livestock or measles in humans drive significant losses, both economically and in terms of human life, especially in developing countries,” he said.
“The ability to deliver an instant, accurate diagnosis at the point of care changes the game. It’s the difference between taking the problem to the lab; or taking science to the problem.”
Lessons from Covid-19 and long waits for results inspired Broom to look for a better balance between time and precise results. PCR tests were the gold standard, but home test kits, while more prone to error, gave people an early heads up to respond more effectively.
DNAiTECH uses a means of testing called Loop-mediated isothermal amplification (LAMP) which is at PCR-level accuracy. It amplifies small segments of DNA for the detection of a myriad of diseases using a handheld device that also integrates with a smartphone.
The startup is contributing to a project in Senegal next year to rapidly diagnose measles and rubella and tackle outbreak containment and disease management.
“Our system is highly engineered yet portable and simple to use. Using a DNAiTECH device and innovative sample processing system, clinicians can get results in minutes compared to days for lab tests,” Broom said.
“Our point of difference lies in how we’ve combined these emerging technologies into a solution that is cost-competitive not only for developed but also developing countries to tackle a hugely intractable problem. We’ve made the process faster, more reliable, and affordable enough to make a difference worldwide.”
Sprout Agritech’s chief investment officer Warren Bebb said the idea will have a profound impact in several sectors.
“This investment will redefine how diagnostics are performed at the point of care,” he said.
“DNAiTECH’s integration of digital and diagnostic technologies presents a scalable solution for a historically challenging industry, offering a level of accessibility and affordability that has been unable to achieve before.”
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