One BioMed Pte Ltd, a Singapore-based healthcare startup, closed a US$5M Series A funding round.
The round was led by Biopath Ventures and US-based ARCH Venture Partners, with Enterprise Singapore’s investment arm, SEEDS Capital, also participating.
The company intends to use the funds to commercialize its first product.
Founded by CEO Dr. Mi Kyoung Park as a spin-off of A*STAR in 2016, One BioMed is developing platform technologies for diagnostics testing. It first product is an automated sample preparation device for purification and isolation of nucleic acids from a wide variety of samples, required as a first step in many molecular biological and clinical diagnostic technologies.
One BioMed said its sample preparation device is the foundation upon which it will build next generation platforms, through integration of molecular diagnostic tools, including its proprietary silicon biophotonics sensing technology, for point-of-care infectious disease detection.