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Osteoporosis Dx Firm Osteolabs Closes $1.9M Financing Round to Support Geographic, Lab Expansion

NEW YORK ─ Osteoporosis diagnostic test startup Osteolabs on Tuesday announced it has closed an approximately €1.6 million ($1.9 million) financing round to expand existing laboratory capacity and support its expansion in Switzerland, Austria, and Scandinavian and Benelux countries.

Seed and Start-Up Fonds II of MBG (Mittelständische Beteiligungsgesellschaft), Kiel; Labor Dr. Krause & Kollegen MVZ, Kiel; and SVM Verwaltungsgesellschaft, Hamburg, provided the funding.

Osteolabs' OsteoTest detects osteoporosis using mass spectrometry to track calcium isotope biomarkers in blood and urine. The test ─ which has been CE marked and clinically validated in studies ─ can also be used to monitor therapy, the firm said.

In January, Kiel, Germany-based Osteolabs announced its first commercialization agreements covering Germany and Turkey.