Nutromics accelerates path to precision medicine.
Award-winning Melbourne-based startup Nutromics is revolutionising precision medicine and recently bolstered funding to $10M total.
The Nutromics smart wearable patch puts personalised, real-time molecular information within easy reach of clinicians, leading to better patient outcomes and a reduced cost burden on healthcare systems.
The Nutromics biosensor technology is integrated into a small, unobtrusive smart patch worn by the patient. The wearable continuously monitors the patient’s molecular information. This information is wirelessly transmitted to a flexible software application that easily integrates with consumer health software and hospital platforms.
A patch for every patient.
Nutromics’ market vision is a ‘patch for every patient’, with benefits including:
- tracking molecular vital signs – enabling timely and informed triaging and clinical decisions
- therapeutic drug monitoring – enabling accurate dosing of life-saving medication
- remote patient monitoring – enabling recovery at home whilst receiving hospital-level monitoring and advice.
Traction is growing fast. Nutromics has developed an initial market of therapeutic drug monitoring for the antibiotic vancomycin, dosed to over 6 million patients in the US every year.
It is challenging for clinicians to pinpoint the precise vancomycin dose required for individual patients, with 60% of doses outside the therapeutic range.
Consequently, 10-20% of patients receive a toxic dose. This can result in Acute Kidney Injury – akin to a heart attack for your kidneys.
Beyond a high frequency of toxic doses, underdosing vancomycin can lead to other complications. This includes longer recovery times; illness complications from ineffective antibiotic treatment; and development of antimicrobial resistance.
But the Nutromics smart patch is set to put accurate dosing in easy reach with personalised, real-time molecular information.
Tracing Nutromics’ success trajectory.
Nutromics was established in 2017 by Hitesh Mehta and Peter Vranes. The co-founders first developed the idea for their technology in the MedTech Actuator – Asia Pacific’s MedTech accelerator.
Between 2018 and 2020, Nutromics secured multi-million-dollar funding through grants from the Cooperative Research Centres Project and Innovative Manufacturing Cooperative Research Centre, and investments from venture capital firms Artesian and CP Ventures.
Major wins in 2021 for Nutromics included:
- raising $5.7M in funding, bringing total funding to $10M
- being awarded a top 5 finalist in MedTech Innovator, out of 1100 companies from over 54 countries
- winning ‘Technology Platform Solution of the Year’ at the 2021 National iAwards, among other finalists including Rio Tinto, Orica, and HCL
- winning ‘Chief Judge Innovation Award’ at the 2021 Victorian iAwards
- winning ‘Best Translational Research 2021’ at the AusMedTech Early Stage Investment Forum
- increasing their team from 8 in February 2021, to 20 employees as of December 2021.
Nutromics is currently conducting research and development for their proof-of-concept device in collaboration with RMIT University, the University of New South Wales, St. Vincent’s Hospital, Sydney, University of California, Santa Barbara, and University of California, San Diego.
How MedTech Actuator supported Nutromics.
The MedTech Actuator’s specialised acceleration model surrounds startups with the ecosystem support they need to bring their MedTech, HealthTech or BioTech innovation to the patients and clinicians who need it most.
Through MedTech Actuator’s intensive mentorship, industry collaboration, up to AUD$200K initial capital injection and capital raising support, founders can achieve in 12 months what can typically take 3 years or more.
Nutromics Co-Founders Hitesh Mehta and Peter Vranes say that the MedTech Actuator has been integral to the company’s growth.
“It was in the MedTech Actuator that Peter and I fleshed out the idea for Nutromics and we received funding to explore opportunities,” says Hitesh.
Peter agrees, saying that the MedTech Actuator ecosystem has built the company’s profile immensely.
“Being a part of the MedTech Actuator has strengthened our strategy and boosted our achievements – and CEO Dr Buzz Palmer still offers his time, advice, and network to support us,” says Peter.
Learn more about Nutromics and follow their journey at www.nutromics.com.au.
Join the next MedTech Actuator intake.
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