Phenomix Sciences Raises $7.8M in Funding to Accelerate Adoption of Obesity Precision Medicine
Summary
Phenomix Sciences Raises $7.8M in Funding to Accelerate Adoption of Obesity Precision MedicinePrecision medicine biotechnology company for obesity secures additional institutional capital from prominent industry leaders to expand the use of its novel phenotyping test and advance clinical research in weight loss treatment.MENLO PARK, Calif., May 16, 2024-- Phenomix Sciences (Phenomix), a precision medicine biotechnology company that brings data intelligence to the treatment of obesity, has secured $5.5 million in Series A funding from new investors, DexCom, Inc. and Labcorp, and existing investors, including Health2047. The company has also been awarded a $2.3 million Phase II Small Business Innovation Research (SBIR) Grant through the National Institutes of Health (NIH). "As leaders in their respective fields of lab testing and patient empowerment, we are excited to add DexCom and Labcorp as investors as we continue to scale our company. The MyPhenome test equips physicians with essential tools to develop effective treatment plans including lifestyle and diet intervention as well as medication and/or procedure recommendations. The sizable award from the NIH is a testament to the importance of this work on the future of obesity treatment as well as the esteemed reputation of Phenomixs founders and significance of their prior studies.
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