Tasso Secures $6.1M Funding to Launch OnDemand Blood Collection Device

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that blood collection startup Tasso completed a new round of financing worth $6.1 million on March 5. The proceeds will be used to launch Tasso’s first automated blood collection device, Tasso OnDemand, and to further expand the company’s team. This round was led by Vertical Venture Partners, with participation from Techstars and Cedars-Sinai.

Tasso, founded in 2011 and headquartered in Seattle, USA, is a medical device company that develops portable blood collection devices. Its compact blood sampling equipment and simple operating procedures enable patients to perform blood sampling at home, thereby streamlining the consultation process centered on blood-based diagnostics.

Tasso OnDemand Schematic: Configurable Interfaces for Various Blood Collection Needs

Tasso’s Tasso OnDemand automated blood collection device consists of interchangeable cartridges and configuration interfaces. To meet diverse user needs, the Tasso OnDemand can be equipped with different configuration interfaces to collect dried blood spots, pure plasma, and whole blood, respectively, enabling nearly painless, clinical-grade self-collection of blood samples by anyone, anywhere. This will transform patient engagement in blood testing and optimize drug efficacy by facilitating the selection of medications with high safety profiles and adherence rates.

After patients use Tasso OnDemand for automated blood sampling, they mail their samples back to the laboratory. Laboratory researchers analyze key data on important biomarkers in the blood to generate medication-related recommendations, helping healthcare providers select more effective drugs for each patient while minimizing adverse drug reactions. Tasso OnDemand is expected to launch in the second quarter of 2019.

Tasso OnDemand was developed under the leadership of Tasso co-founder Ben Casavant. Mr. Casavant holds a Bachelor’s degree in Bioengineering from the University of California and a Ph.D. in Biomedical Engineering from the University of Wisconsin. He has published more than twenty biology-related papers and holds five patents.

Dr. Erwin Berthier, another co-founder of Tasso, holds a Master’s degree in Mechanical Engineering from ENSTA Paris, a Master’s degree in Electrical Engineering from the University of Canterbury in Christchurch, New Zealand, and a Ph.D. in Biomedical Engineering from the University of Wisconsin. He has authored 35 publications and has 9 patents pending.

Regarding this round of financing, Dr. Ben Casavant stated, “Partnering with Vertical Venture Partners has further advanced our patient-centric blood collection mission. With additional support from Techstars and Cedars-Sinai, we are well-positioned to transform the current landscape of clinical blood testing. Furthermore, we provide patients with more comprehensive blood test data, enabling each individual to accurately and timely understand their health status.”

“Blood collection has remained unchanged for decades. Tasso shows us its potential to disrupt traditional blood collection,” said Brad Corona, Partner at Vertical Venture Partners.

This round of financing builds upon the $13.1 million in grant funding previously provided by DARPA, DTRA, and NIH, helping Tasso develop its core technology for high-quality, large-volume blood collection.

Vertical Venture Partners, established in 2014 and headquartered in California, USA, is a venture capital firm dedicated to investing in companies that provide solutions to high-priority pain points for C-suite executives. Currently, the firm’s primary investment sectors include aerospace, defense, energy, financial services, healthcare, insurance, real estate, retail, and transportation, as well as emerging technology areas such as business intelligence, cloud applications, CRM, mobile, security, software infrastructure, instrumentation, and materials science.

Techstars, founded in 2006 and headquartered in Colorado, USA, is an early-stage venture capital firm. Techstars favors investing in innovative startups, helping them build their brands and develop products and services that change the world. Currently, Techstars’ portfolio comprises more than 1,000 companies, and its market valuation has reached $8.1 billion.

Cedars-Sinai, fully known as The Cedars-Sinai Accelerator, was founded in 2015 and is headquartered in Los Angeles, USA. It is an early-stage venture capital firm dedicated to helping technology innovators transform their ideas into tangible products. The firm primarily invests in the healthcare industry, providing $100,000 in support to each portfolio company. Additionally, it leverages a network of over 300 clinicians and executives to offer professional guidance and operational assistance to healthcare startups.

(Editor: Wang Chan)