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Medtech Alimetry gases up with $18 million for a wearable to help diagnose gastric disorders
- New Zealand-based healthtech Alimetry has raised $18m in a second tranche of series A funding led by VC firm GD1. The company has developed a wearable device to diagnose functional gastric issues by picking up electrical signals from the gut using a flexible electrode array. The signals are analysed in the cloud, using AI, to generate clinical data, which is sent to doctors to support their diagnosis. The company's hardware is aimed at hospitals, but it does not charge further fees for the software. Alimetry is currently focusing on the US market despite testing take-up in the UK and New Zealand.
- The device is a single-use array of 64 electrodes applied to the patient's stomach, with a reusable reader that analyses the data
- Alimetry's algorithm enables clinicians to determine which phenotypes (or descriptive categories) apply to patients' conditions
- Four FDA clearances have allowed Alimetry to use its devices as a diagnostic aid. The company is seeking further approvals as it evolves the product.
- Alimetry's high-resolution approach affords comprehensive diagnosis of gastric neuromuscular disorders without risk of invasiveness.
- The device monitors weak electric signals in the gut, which are difficult to detect, making it different from more established heart-monitor technology, explains co-founder and CEO Dr. Greg O’Grady
- The company sees applications for the technology in the diagnosis of issues affecting the colon and in paediatric care.
- Alimetry considers that the technology could be used to fully automate the diagnosis of health complaints in the future, although presently doctors work in tandem with the human-operated device.
- Alimetry's A2 funding round will support a market release to detect neuromuscular gut, sensory and gut-brain disorders. It has so far conducted 4,000 tests.
- Alimetry's $18m second tranche of a series A funding round was led by VC firm GD1, with funding fromAGA Ventures, IceHouse Ventures, and Olympus Innovation Ventures.
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