Point-of-care diagnostics company Nanopath has been awarded $4 million in funding from US Federal agencies. The company was awarded a $3 million grant from the National Institutes of Health (NIH) and a $1 million grant from the National Science Foundation (NSF) to support continued research and development of the company's point-of-care diagnostic platform for pelvic and gynaecologic infections.
Both grants were awarded through the Small Business Innovation Research (SBIR) Program, a competitive, awards-based programme designed to stimulate technological innovations developed by small businesses. These grants bring the company's total funding to over $15 million.
It is well documented that women's health is underfunded and under-researched. Nanopath is working to tackle these health disparities through development of a novel diagnostic technology that is intentionally designed to meet the needs of women, empowering them to take control of their health. The company's low-cost, easy-to-use diagnostic platform is designed to provide unparalleled access to clinically actionable molecular diagnostic information at the point-of-care.
Nanopath will use the new funds towards core platform development, including the test consumable and readout instrumentation, as well as analytical and clinical validation of its lead assay. The company envisions that the technology could become the new standard of care for characterisation of pelvic and gynaecologic infections.
"This funding is a tremendous vote of confidence in Nanopath's ability to transform molecular diagnostics and enable providers to move away from the traditional view of disease-specific diagnostic testing, and towards patient-centric testing," said Amogha Tadimety PhD, Co-Founder and CEO of Nanopath. "The outcomes of this grant-funded work could lay the groundwork for a new era of clinically informative diagnostics at any site of care, changing the paradigm of women's healthcare."
Nanopath has developed advanced prototypes of both its disposable test cartridge and benchtop readout instrument and is actively developing its pipeline of test offerings through clinical collaborations with preeminent hospitals in New England.
Since the company raised a $10 million Series A in 2022, Nanopath has hit several significant milestones, including: growing the team from 4 to 14 employees, receiving the 2022 American Association Diagnostic and Laboratory Medicine (ADLM) Disruptive Technology Award, and recognition of its co-founder on the 2023 Forbes 30 Under 30 (Healthcare) list. Nanopath was also the first winner of the INTEGRA supports start-ups competition during 2023.