NEW YORK – Metabolomics deep data company Lifespin announced on Monday that it has secured €2.5M ($2.8 million) in bridge financing to continue its product development.
The German firm is currently developing a proprietary artificial intelligence-based testing platform to measure quantitative metabolomic data from blood, and the financing will be used to further develop a neurological disease diagnostic panel for the platform. The first commercial test will be for early stages of multiple sclerosis and is expected to launch in 2022, the company said in a statement. The test will be expanded with other neurological indications later, it added, and other tests for cancer and inflammatory diseases will come after.
Lifespin's platform maps metabolomic data and translates it into health information that can be used in pharmaceutical, research, and clinical settings and for diagnostics, patient stratification, and drug discovery, the company said. It captures individual metabolomes, or metabolite concentrations, and measures them with a nuclear magnet resonance instrument.
The company is also building an in-house biobank that currently has 200,000 human blood samples, it said.
The firm said it expects to begin fundraising for a Series A round in 2022 to fund its product introductions and expand its business operations in the US.