Gemelli Biotech Completes $19 Million Series A Financing
Summary
Blue Ox Healthcare Partners ("Blue Ox"), a private equity firm providing growth capital to companies targeting precision health and value-based care, led the investment round, joined by founding investor Cedars-Sinai, along with Carolina Angel Network, CerraCap Ventures, and several family offices.Gemelli will use the capital raised to accelerate the commercialization of its trio-smart\xae and ibs-smart\xae precision diagnostic tests, including expanding sales and marketing across the US and the scale-up of laboratory and manufacturing capacity, as well as its operational footprints in Raleigh and Los Angeles. "Our innovative, non-invasive diagnostic technologies advance the level of actionable, scientifically validated biomarker and analytic information that enables clinicians to more definitively detect and optimize treatment of patients with gastrointestinal diseases," said Matt Mitcho, Gemelli Biotechs co-founder and CEO. "We are particularly pleased to partner with Gemelli and help them grow as a leading innovator of diagnostic tests which are convenient and provide actionable information for physicians treating IBS, small intestinal bacterial overgrowth (SIBO), and other GI diseases. Founded in 2018, Gemellis mission is to leverage leading biological discoveries related to the microbiome to provide non-invasive precision diagnostics which enable clinicians to definitively detect scientifically validated biomarkers and optimally treat GI diseases including SIBO, IMO, excess hydrogen sulfide, and post-infectious IBS. Blue Ox targets emerging companies in the middle market with commercial products and solutions in healthcare services, HCIT, and medical and life sciences technologies, whose innovations, strategies, and operations are poised for growth.