Kryptos Secures Funding to Study its POC Molecular Diagnostics System

Biotech startup Kryptos Biotechnologies has raised $10 million in Series A financing led by Osang Healthcare (OHC), a South Korean medical device company that specializes in diagnostic biosensors and diagnostic assays. 

The funding will help Kryptos further develop its flagship point-of-care molecular diagnostics system, Kuick, and advance a clinical study of Kuick’s respiratory combination tests. Kryptos expects to seek U.S. Food and Drug Administration approval by next year. Along with the financing, the company has entered into a strategic partnership with Osang Healthcare to manufacture and distribute the product.
 
“We are thrilled to receive the trust and support of our strategic partner Osang Healthcare. This financing validates our commitment to fulfill the demand for point-of-care molecular diagnostics that is growing rapidly globally,” Kryptos Biotechnologies Co-Founder/CEO Jinyong Lee said.

Using its core technology (Photothermal Heating), which creates heat by using light that generates heat and precisely controls temperature, Kryptos developed a new PCR technology called Ultrafast Photonic PCR. Combining the Ultrafast Photonic PCR with a fully integrated sample preparation workflow, Kryptos designed the sample-to-answer molecular diagnostics system—Kuick. The system delivers a test result in about 20 minutes while ensuring lab-comparable or even better diagnostic results by using solid-phase extraction coupled with multiplexed real-time Ultrafast Photonic PCR in the low-cost disposable cartridge. 
 
The general practice of molecular diagnostics is suboptimal in that it usually takes one to three days from sample collection to get the result because the test must be conducted in microbiology labs away from the sample collection site, according to Kryptos. Since the COVID-19 pandemic, the demand for fast point-of-care molecular diagnostics has grown exponentially, but the technology hasn’t changed as rapidly. The Kuick system has been developed to deliver a test result in about 20 minutes by one minute of user handling and aims to democratize molecular diagnostics for the more than 100,000 U.S. decentralized clinics. 

“Point-of-care testing requires comprehensive requirements in accuracy, speed, cost, and usability, and we are confident the advantages of the Kuick system will satisfy those aspects,” Co-Founder/Chief Technology Officer Jun Ho Son stated.
 
Established in 1996, OHC is a major in-vitro diagnostic (IVD), publicly listed company. Its portfolio of point-of-care medical devices includes glucose, ketone, cholesterol, and A1c analyzers for chronic illnesses, as well as COVID-19 & Flu Combo and Dengue rapid tests for infectious diseases. Recognized for its global presence, OHC exports diagnostics to over 110 countries worldwide. 
 
Founded in 2017, Kryptos Biotechnologies is a life science startup based in the Bay Area, California. Kryptos’ technology, called photothermal heating, uses light to generate heat and control temperature for various types of molecular diagnostic devices and life science instruments. Its diagnostics systems enable clinicians to make the right treatment decision in less time by providing a PCR-based point-of-care molecular diagnostic system that gives a sample-to-answer in 20 minutes while ensuring the same level of accuracy with lab systems.