myBiometry Raises $5 Million in Oversubscribed Seed Round

Asthma and COPD diagnostic and remote monitoring firm Biometry Inc. (myBiometry) is $5 million richer these days, having raised $5 million in an oversubscribed seed funding round led by Dexcom Ventures.

The company will use the funding—also supported by CareSource Indiana, Elevate Ventures, and other investor groups—to advance the development of its fenoTRACK solution, a device that provides data to enable early detection of asthma and chronic obstructive pulmonary disease (COPD) exacerbations.

“We’re excited to partner with Dexcom Ventures and CareSource as we near the milestone of submitting fenoTRACK for regulatory clearance,” myBiometry CEO Bryan Nolan said. “With enhanced at-home monitoring for asthma and COPD, we strive to identify attack risks sooner, enabling clinicians to offer more personalized care and preventive interventions that lessen the burden on patients, caregivers, and healthcare payers.”

Asthma and COPD impact more than 500 million patients globally and 41 million in the United States. Exacerbations, or attacks, occur in approximately 40-50% of patients annually leading to millions of U.S. emergency room visits and hospitalizations annually.^1-5 Frequent attacks can lead to progressive loss of lung function, permanent airway remodeling, and in COPD, death.^6-8 Type 2 inflammation is the underlying driver in 80% of patients with asthma and 30-40% of patients with COPD.^9-12

fenoTRACK is a portable, non-invasive breath test that measures type 2 airway inflammation through fractional exhaled nitric oxide (FeNO). FeNO data helps identify patients at risk of an exacerbation and tailoring therapy based on FeNO data reduces the risk of exacerbation by 38-50% in adults and children respectively.^13-15

“The impact of asthma and other lung diseases on the health and wellbeing of our members of all ages cannot be overstated,” said Steve Smitherman, regional vice president, Midwest, at CareSource. “CareSource is constantly looking for new innovations that can help our members better manage chronic conditions, which is why we are enthusiastic about Biometry’s work and a proud investor.”

“We are thrilled to announce our investment in MyBiometry,” Dexcom Ventures Senior Director Jason Halac stated. “Their data driven sensing solution to address chronic diseases like asthma and COPD aligns with our mission to empower people to take control of their health.”

myBiometry is currently focused on completing development of fenoTRACK and preparing for its regulatory submission.

myBiometry aims to provide people suffering from asthma and COPD with proactive and actionable data to prevent attacks at home. The company’s focus is using data for the early detection of asthma and COPD exacerbations up to 20 days in advance using intelligent diagnostics and connected monitoring. The company is headquartered in Massachusetts and maintains operations in Indiana. myBiometry’s products are currently in development and have not yet been cleared by the U.S. Food and Drug Administration.

Dexcom Ventures builds upon the foundation established by Dexcom, a developer/provider of diabetes care technology. The venture arm focuses on investing in transformational technology platforms related to chronic disease management.

CareSource Indiana is a nonprofit, nationally recognized managed care organization serving more than 2 million members. Since its inception in 1989, CareSource has managed one of the largest Medicaid programs in the United States.

References
¹ Centers for Disease Control and Prevention. FastStats – Asthma. April 30, 2024. Accessed October 23, 2024. www.cdc.gov/nchs/fastats/asthma.htm.
² Bogart M. Real-world treatment patterns and switching in COPD patients. Int J Chron Obstruct Pulmon Dis. 2023;18:1575-1586. doi:10.2147/copd.s398816.
³ Centers for Disease Control and Prevention. FastStats – Chronic Lower Respiratory Disease. April 30, 2024. Accessed October 23, 2024. www.cdc.gov/nchs/fastats/copd.htm.
⁴ World Health Organization. Asthma. Accessed October 23, 2024. www.who.int/news-room/fact-sheets/detail/asthma.
⁵ Boers E, et al. Global burden of COPD through 2050. JAMA Netw Open. 2023;6(12). doi:10.1001/jamanetworkopen.2023.46598.
⁶ Kerkhof M, et al. Association between COPD exacerbations and lung function decline. Thorax. 2020;75(9):744-753. doi:10.1136/thoraxjnl-2019-214457.
⁷ Suissa S, et al. Long-term natural history of COPD: Exacerbations and mortality. Thorax. 2012;67(11):957-963. doi:10.1136/thoraxjnl-2011-201518.
⁸ Çolak Y, et al. Type-2 inflammation and lung function decline. Thorax. Published online January 9, 2024. doi:10.1136/thorax-2023-220972.
⁹ Asthma & Allergy Foundation of America. Type 2 Inflammation. December 11, 2023. Accessed October 23, 2024. https://aafa.org/programs/collaborations/type-2-inflammation/.
¹⁰ Vedel-Krogh S, et al. Blood eosinophils and COPD exacerbations. Am J Respir Crit Care Med. 2016;193(9):965-974. doi:10.1164/rccm.201509-1869oc.
¹¹ Brightling C, et al. Airway inflammation in COPD: Precision medicine. Eur Respir J. 2019;54(2):1900651. doi:10.1183/13993003.00651-2019.
¹² Bhatt SP, et al. Dupilumab for COPD with type 2 inflammation. N Engl J Med. 2023;389(3):205-214. doi:10.1056/nejmoa2303951.
¹³ Schumann DM, et al. FeNO variability and COPD exacerbations. Respirology. 2022;28(5):445-454. doi:10.1111/resp.14439.
¹⁴ Wang Z, et al. Clinical utility of FeNO in asthma management. Rockville (MD): Agency for Healthcare Research and Quality (US); 2017.
¹⁵ National Heart, Lung, and Blood Institute. 2020 Asthma Management Guidelines. Accessed October 23, 2024. https://www.nhlbi.nih.gov/health-topics/asthma-management-guidelines-2020-updates.