Home PC News Tasso raises $17 million for home blood-testing kits

Tasso raises $17 million for home blood-testing kits

Tasso, a Seattle-based telemedicine firm that makes a speciality of distant, self-sampled blood assortment, has raised $17 million in a sequence A spherical of funding.

The telehealth market has boomed over the previous few months on account of social distancing measures. Virtual health consultations rose by 50% within the first month of lockdown alone, in line with Frost and Sullivan, and normal on-line medical visits are at the moment on track to hit 200 million this 12 months — up considerably from the anticipated 36 million earlier than COVID-19 struck.

Founded in 2011, Tasso affords two blood-sampling gadgets — the Tasso-M20 for dry blood samples and the Tasso-SST for liquid blood samples — which might be being validated to be used throughout a spread of functions. These embrace illness surveillance, diagnostics, persistent illness monitoring, anti-doping testing in sports activities, and extra. The kits are dispatched instantly by Tasso’s well being care clients, which embrace pharmaceutical organizations, insurance coverage payors, tutorial medical establishments, authorities companies, and medical facilities.

The kits are pretty easy to make use of. A consumer sticks the Tasso gadget to their arm, presses a button, and units a five-minute timer to permit the gadget to gather the required quantity of capillary blood.

Above: Tesso at-home blood sampling

This is distinct from venous blood sampling, which normally requires a medical skilled to insert a needle into the affected person’s vein. But for a lot of conditions, venous blood assortment could not provide an enormous benefit.

“Tasso is generating validations that demonstrate that the capillary blood we collect is equivalent to venous blood,” Tasso CEO Ben Casavant instructed VentureBeat. “We have a submission with the FDA [U.S. Food and Drug Administration] and a pipeline of clinical studies that will expand the number of tests that we are able to validate on our platform.”

Social distancing measures apart, Tasso might be well-positioned to help testing throughout quite a few situations, akin to for sufferers who don’t stay close to well being care facilities or are in any other case unable to point out up for a bodily check.

“We are looking at those that either have poor access to diagnostic testing, like rural or underserved communities; those with chronic diseases that require frequent trips to the clinic; and people who avoid diagnostic testing due to fear of needles or fear of visiting a clinic for exposure risk,” Casavant added.

For now, Tasso doesn’t provide a lot in the best way of digital — the largely guide course of entails sending bodily gadgets to sufferers who then ship these gadgets again to a CLIA-certified laboratory for evaluation. However, Casavant is planning what it calls a “digital pipeline,” which features a patient-focused cellular app that asks questions throughout the blood assortment course of whereas giving sufferers essential knowledge.

“We have recently hired a VP of product from Amazon, who is leading these digital connectivity efforts, both on the app side but more importantly [for] the logistics and interoperability of the Tasso kits in the diagnostic testing and medical care infrastructure,” Casavant stated.

Tasso blood collection

Above: Tasso blood assortment

Home testing

Tasso is considered one of quite a few corporations to learn from the speedy adoption of residence testing and diagnostic kits. New York-based Tyto Health not too long ago locked down $50 million in funding for a software program and {hardware} platform that permits medical doctors to look at sufferers’ lungs, coronary heart, throat, ears, pores and skin, stomach, and physique temperature from afar. And LetsGetChecked secured $71 million for at-home coronavirus check kits.

The surge in distant medical providers extends to only about each space of well being care, together with on-line pharmacies — up to now few weeks alone, Medly and Truepill secured round $125 million between them.

Techstars alum Tasso had beforehand raised round $19 million in a mix of grants and fairness funding, and with one other $17 million within the financial institution the corporate will now “scale manufacturing and operations” to fulfill the growing demand for its Tasso OnDemand gadgets — significantly within the COVID-19 period.

“Tasso has seen a huge influx in demand due to COVID-19, both for at-home COVID antibody testing and from medical centers that are having difficulty accessing their patients who critically need diagnostic testing,” Casavant added. “We received one large contract for kits for testing from the DoD (Department of Defense) and are working on expanding our capacity to meet a growing need.”

Sign up for Funding Weekly to start out your week with VB’s high funding tales.

Most Popular

How QuadPay’s interest-free PlayStation 5 and Xbox Series X payment plan works

If you feel the need to keep up with cutting-edge video game hardware, 2020 is a rough year thanks to the PlayStation 5, Xbox...

Colt Defense LLC Announces Early Results of Tender Offer for 8.00% Fourth Priority Secured Notes Due 2021 and Related Consent Solicitation and Extension of...

WEST HARTFORD, Conn.–(BUSINESS WIRE)–September 25, 2020– Colt Defense LLC (the “Company”) announced today that as of 5:00 p.m., New York City time, on September 24,...

The DeanBeat: Agent Venture makes Zoom time fun again

Escape rooms have taken a big hit during the pandemic. But they’ve moved online, into Zoom calls and other video solutions, and that may...

Epic Games acquires kid tech platform SuperAwesome

Epic Games has announced the acquisition of SuperAwesome, a pioneer in the “kid tech” market that provides children with what it says are safe...

Recent Comments