Hememics Biotechnologies Secures $2.5M Seed Funding to Advance Rapid Infectious Disease Pathogen Detection Platform

VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that on December 11, 2019, U.S. biotechnology company Hememics (Hememics Biotechnologies) announced it had secured $2.5 million in financing. This round of funding was provided by AMVI Partners, a consortium of Vietnamese investors.

Hememics will utilize this funding to conduct clinical studies in support of a U.S. Food and Drug Administration (FDA) submission for its novel point-of-care technology, which detects infectious disease pathogens within one minute.

Hememics, a biotechnology startup founded in 2019 and headquartered in Maryland, USA, is dedicated to developing rapid diagnostic testing platforms for infectious disease pathogens. The company has developed a point-of-care (POC) detection device the size of a mobile phone, enabling hospitals to rapidly identify infectious disease pathogens within seconds. Due to its ease of operation, suitability for use at any testing site, and low testing costs, the device has been adopted by numerous medical institutions.

It is reported that this equipment platform was initially developed to meet the demand for rapid diagnosis of pathogens in sexually transmitted infections (STIs). Preliminary estimates suggest that the infectious disease testing market is expected to reach $140 billion by 2025.

The American Chamber of Commerce in Vietnam (www.VABC.US) previously introduced Hememics to AMVI Partners, an investment firm with an office in McLean, Virginia. The organization, which is also a non-profit headquartered in McLean, Virginia, has a mission to create opportunities for collaboration between U.S. and Vietnamese businesses.

John Warden, CEO and Co-Founder of Hememics, stated, “We are delighted to establish this productive partnership with Vietnamese investors through AMVI Partners. Given the global rise in sexually transmitted infections such as chlamydia and gonorrhea, we are particularly honored by the significant attention our technology has received from the international investment community.”

Dr. David Ho, Co-founder of Hememics, added, “Our long-term partnership with VABC has made it possible for Hememics to become a global leader in the research and development of infectious disease diagnostic platforms. This significant investment will be a key milestone on our path to commercialization.”

AMVI Partners is an early-stage venture capital firm headquartered in Virginia, USA, that seeks to invest in large corporations through various forms. Initially, AMVI Partners’ series of investments focused on U.S. companies with breakthrough technologies, later expanding its investment scope to include startups in agriculture, biotechnology, and other high-tech sectors. AMVI Partners employs a team of professionals who analyze market trends, identify potential growth opportunities, and help their portfolio companies stay on the right development path.

(Compiled by Wang Fang)