Spirometrix, a Pleasanton, Calif.-based developer of breath analysis devices for applications in disease diagnosis and management of asthma, raised $17.4m in Series C financing.
The round was led by Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (600196.SH, 02196.HK), with participation from return backers NGK Spark Plug Co., LTD (NTK); South Valley Angels; Iconical; Ohio Innovation Foundation; and, Carmen Innovation LLC.
Founded in 2011 by Dr. Solomon Ssenyange and Ryan Leard, and led by CEO J. Dean Zikria, Spirometrix develops sensor based technology, licensed from Professor Prabir Dutta’s innovative laboratories at The Ohio State University as the company was founded, which includes data from other devices as well as the environment, such as local pollen count, local pollution index and air quality—which allow for algorithmic analysis that leads to pattern recognition and pattern management in asthma.
The company, which has raised a total of $29m in three rounds of funding, intends to use the funds to finalize the development of a handheld breathalyzer for use by asthma patients in measuring their FeNO levels at home and finance product launch in both the EU and USA within one year.