NEW YORK – Gemelli Biotech announced on Wednesday it has completed a Series A financing round that raised $19 million.
The company, which has offices in Los Angeles and Raleigh, North Carolina, said it will use the funds to accelerate the commercialization of its Trio-Smart and IBS-Smart diagnostic tests, including the expansion of its sales and marketing in the US, as well as the scale-up of its laboratory and manufacturing capacity. The financing will also go toward increasing Gemelli's operational footprints, it said.
Private equity firm Blue Ox Healthcare Partners led the Series A round and was joined by founding investor Cedars-Sinai. Carolina Angel Network, CerraCap Ventures, and a number of family offices also participated in the round.
Gemelli was founded in 2018 and develops diagnostics for gastrointestinal diseases. Its IBS-Smart blood test is for diagnosing irritable bowel syndrome, while its Trio-Smart breath test provides a more complete picture of gut health by measuring hydrogen, methane, and hydrogen sulfide levels, the firm said.