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Kenota Health Raises $11M to Further Development of POC Allergy Test

NEW YORK – Canadian medical technology firm Kenota Health announced this week it has raised $11 million in funding to further develop its point-of-care allergy test and begin the regulatory process.

The initial seed round in 2016 raised $2 million to start work on a proof-of-concept for the firm's technology, and a Series A financing round raised $9 million. The Series A round was led by venture fund Draper Associates, with contributions from Y Combinator, OS Fund, BDC Capital, BoxOne Ventures, 1517, Fifty Years Capital, and allergy specialist Collin Terpstra. 

The firm's point-of-care allergy test provides results in less than 30 minutes from a finger prick of blood sample and is intended for use in the US and Canada, the firm said in a statement. Currently, allergy testing is performed using a skin prick test or a laboratory-based blood test, which can take weeks to process.

The Kitchener, Ontario-based firm is particularly focused on life-threatening allergies in children, it added, with the ultimate goal to get children diagnosed earlier and started on an immunotherapy plan.

Kenota said it has consulted with the US Food and Drug Administration to ensure its technology meets regulatory requirements.