The Mississauga, Ont.-based firm introduced its desktop computer-sized device, which can test for more than 50 things with a few drops of blood, at the annual meeting of the American Association of Clinical Chemistry in California on Monday. Vital Bio also announced it has raised $48 million to date from Inovia Capital, OpenAI’s Altman, Salesforce CEO Marc Benioff and other investors. (The Logic)
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The Mississauga, Ont.-based firm introduced its desktop computer-sized device, which can test for more than 50 things with a few drops of blood, at the annual meeting of the American Association of Clinical Chemistry in California on Monday. Vital Bio also announced it has raised $48 million to date from Inovia Capital, OpenAI’s Altman, Salesforce CEO Marc Benioff and other investors. (The Logic)
Talking point: The VitalOne device is not yet available for sale and the company said the funding will be used for the product’s late-stage development, verification and validation activities, as well as starting clinical studies. It’s one of several companies working toward modernizing blood testing, despite being under the shadow of failed startup Theranos. Its founder Elizabeth Holmes, which had raised more than US$1 billion according to PitchBook, is now serving an 11-year sentence after being convicted of fraud and conspiracy. Loblaw-affiliated Wittington Ventures co-led a US$105-million Series C in San Diego-based Truvian in 2021.
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