Inova Personalized Health Accelerator Accepts HeMemics Biotechnologies, Inc. into Portfolio
Innovative Point of Care Diagnostic Company is Accelerator’s first investment
Fairfax, VA. – Inova Personalized Health Accelerator (IPHA) has selected HeMemics Biotechnologies, Inc. (HBI) as its first portfolio company. HBI is a research and development company located in Rockville, MD that develops rapid diagnostic test platforms to detect various bacterial and viral pathogens. The company’s technology detects, within 15 seconds, the absence or presence of a specific virus or bacterium when an aqueous sample is placed on an electronic chip. HeMemics invented and patented “HemSol™,” a method to preserve cells and biological entities for an extended period of time. The preservation method in conjunction with the low cost HeMemics prototype electronic chip and portable, battery-powered reading device are designed to be deployed for Point of Care (POC) diagnostics. Typically, pathogen detection involves laboratory analysis which delays inpatient treatment or requires a return visit for outpatients.
IPHA Director Mike Thomas said “Rapid turn-around of pathogen testing is critical for triage, referral and treatment decisions. The HeMemics solution delivers convenience to patients since the diagnostic process can be completed in the same clinical encounter. Nurses and medical staff can identify and triage patients with infections in under a minute.”
“The clinical utility of Hememics’ inexpensive, rapid, bedside test for infectious diseases means that precise treatment can be expeditiously given to patients in any setting, at any time. More rapid and precise therapy can potentially reduce the length of stay and readmissions. The simplicity of the HeMemics testing process positions us to be widely adopted by primary care practices and remote settings where laboratory infrastructure is not present” stated John Warden, Chief Operating Officer of HeMemics”.
As an IPHA portfolio company, HeMemics will follow a customized development plan which includes working with the IPHA Directors to design and produce a product that can be utilized in the Inova Health System and other healthcare organizations. In addition to product development, HeMemics will work with IPHA directors to raise capital and structure the company to achieve rapid growth.
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About Inova Personalized Health Accelerator
The Inova Personalized Health Accelerator is a unique program that provides C-suite coaches, customized plans, early stage capital, connections to strategic partners and later stage capital, and introductions to customers for healthcare technology and services entrepreneurs. This bespoke approach to enhance med-tech entrepreneurs’ efforts to accelerate new companies through the early stages of product design, capital formation and commercialization will serve as the foundation for a stronger healthcare ecosystem in the mid-Atlantic region. Additional program information is located at www.inovawpe.wpengine.com.
Inova is a global leader in personalized health, which leverages precision medicine to predict, prevent and treat disease, enabling individuals to live longer, healthier lives. At Inova, we serve more than 2 million people each year from throughout the Washington, DC, metro area and beyond.
We are shaping the future of health through our integrated network of hospitals, primary and specialty care practices, emergency and urgent care centers, outpatient services and destination institutes. Our commitment to health and wellness is further reflected in our sustainable practices. Inova is home to world-class researchers, expert medical specialists and renowned scientists, who are driving innovation to improve patient care, prevent disease and promote wellness. For more information, visit www.inova.org, or find Inova on Facebook, Twitter and LinkedIn.