NEW YORK – NephroSant said on Tuesday that it has closed an oversubscribed $16 million Series A funding round.
The financing round was led by DaVita, with participation from DigitalDx Ventures and other previous investors.
The San Francisco-based startup will use the funds to support research and development and to launch its Qsant urine test to help determine if a patient's body is rejecting a kidney transplant.
The Qsant assay analyzes six biomarkers from a patient's urine sample, including the amount of cell-free DNA (cfDNA), the fraction of methylated cfDNA, the proteins clusterin and creatinine, the inflammation marker CXCL10, and total protein amount in the urine. The test provides a threshold score — called a "Q-Score" — and a numerical score for the intensity of the rejection.
"[DaVita's] expertise and experience provide the perfect complement to the vision and focus of NephroSant to redefine kidney health," Minnie Sarwal, CEO and founder, said in a statement.
"Transforming kidney care requires bold innovation, which is precisely why DaVita Venture Group invested in NephroSant and its game-changing solution that helps patients manage their transplanted kidney health," Jeff Giullian, chief medical officer of DaVita, said in a statement. "As a transplant nephrologist, I look forward to a future where patients not only have greater access to a transplant but also can extend the life of a transplant with Qsant."