NEW YORK – Medical device firm Breath Diagnostics said Thursday that the firm has closed a $1 million convertible note financing round that will support company operations and fund R&D for its breath-based testing platform.
The Louisville, Kentucky-based firm has been developing its OneBreath testing platform for the detection of lung cancer and other diseases. The testing system uses microchip reactor technology for the capture of target biomarkers in a breath sample, which can be analyzed using LC-MS including ultrahigh performance LC-MS.
Breath Diagnostics CEO Ivan Lo was among the strategic investors who led the funding round, the company said.
The firm also said that it has appointed Aaron Roebuck as the company president. He was most recently the senior director of clinical sciences at Vero Biotech, where he led initiatives that were related to next-generation drug delivery systems. The company said that Roebuck's industry experience will help it to accelerate development of OneBreath and bring it to market.
"OneBreath has the potential to significantly improve early detection of diseases like lung cancer and pneumonia," Roebuck said in a statement. "I look forward to helping lead the company's efforts as we move toward the ever-important commercialization phase."