Alimetry has successfully raised $18 million in an oversubscribed A2 financing round. The funding will help commercialize its wearable device for monitoring gut health. This device has gained traction in US hospitals, especially after Alimetry received its fourth FDA clearance and established a CPT III reimbursement code. Additionally, the company has completed over 30 clinical studies to support its product.
Alimetry’s flagship product uses artificial intelligence to provide accurate analysis and diagnosis of gut disorders. Many of these disorders have traditionally been hard to diagnose with standard testing methods. The financing round was led by GD1 (Global from Day One), with contributions from the American Gastroenterological Association (AGA) GI Opportunity Fund, Olympus Innovation Ventures, IceHouse Ventures, and existing investors.
Nearly one in ten people suffer from chronic gut symptoms, which can include abdominal pain, indigestion, nausea, and vomiting. The current process for diagnosing these issues is slow and often leads to a diminished quality of life for patients. Alimetry aims to simplify gut health diagnostics by offering quick and clear diagnoses, enabling more effective treatment.
“Alimetry was designed to bring clarity to a field that often involves long and uncertain diagnostic journeys,” said Alimetry CEO Dr. Greg O’Grady, who is also a professor of surgery at the University of Auckland. “It provides clinicians with the tools they need to diagnose patients swiftly and accurately, moving away from trial and error.”
Dr. O’Grady emphasized that Alimetry transforms lengthy testing periods into quicker, clearer diagnoses. Vignesh Kumar, co-managing partner at GD1, remarked, “They’ve demonstrated how technology can lead to a new era of diagnostics, connecting gut health to overall patient health.”
How Alimetry Works
Similar to the heart, the gut generates electrical currents, though these are 100 times weaker. Alimetry’s wearable device detects these subtle currents through the skin using a method called Body Surface Gastric Mapping, akin to an ultra-high resolution electrocardiogram (ECG). Patients wear the device while eating and digesting a meal, simultaneously logging their symptoms in an app.
The device transmits gastric electrical signals to the cloud, where AI analyzes the data using smart algorithms trained on thousands of cases. This results in a Gastric Alimetry Report that provides clinicians with objective insights to aid in diagnosing and personalizing treatment for gastric disorders.
Dr. Michael L. Kochman from the AGA GI Opportunity Fund expressed enthusiasm for Alimetry’s platform, stating it will enhance patient experiences by lowering the time and costs associated with diagnosing gastrointestinal symptoms.
Understanding the Gut-Brain Connection
Gastric issues can stem from various causes, including diet, diseases, and the vagus nerve, as well as stress-related factors. Chris Andrews, Chief Medical Officer and Professor of Gastroenterology at the University of Calgary, noted that Alimetry’s platform assesses multiple factors simultaneously, revolutionizing the way clinicians approach diagnoses.
Market Entry After FDA Approval
The device and platform have been cleared for clinical use by the U.S. Food and Drug Administration and began market release in 2022. More than 40 hospitals and clinics worldwide have adopted the device. The American Medical Association has also created a Category III Current Procedural Terminology (CPT®) code to facilitate data collection and reimbursement, allowing the device to be used in both hospitals and private clinics.
Alimetry adheres to strict privacy regulations, including HIPAA and GDPR.
Bu’ Hayee, a professor of gastroenterology at King’s College London, stated, “Alimetry is changing how we treat patients with gastric disorders. It’s hard not to be excited about this innovation.”
Path to Commercialization
Founded in 2019 by Dr. O’Grady and Dr. Armen Gharibans, Alimetry began its research at the Auckland Bioengineering Institute. The company’s R&D team is based in New Zealand, while its consumables are manufactured in the U.S., where it has established a commercial operation focused on bringing its product to market.
Dr. O’Grady concluded, “In addition to launching our first product, we are also looking ahead to expand our technology’s applications, including pediatric uses and diagnostics for other organs like the colon, ultimately improving health outcomes for many patients.”
Related topics:
- Study Reveals Disparities in Concussion Care for Children
- Study Finds Telephone Therapy Reduces Mental Health Symptoms in Refugee Children
- New Technology Revolutionizes Drug Discovery Process
