Nanostics Receives Funding from the University of Alberta Innovation Fund

Nanostics

Nanostics, an Edmonton, AB, Canada-based precision health company developing diagnostic tests with its ClarityDX® platform technology, received funding from the University of Alberta Innovation Fund.

The amount of the deal was not disclosed.

The company intends to use the funds to propel adoption of its test in North America.

Led by CEO Dr. John Lewis, Nanostics develops and commercializes novel and noninvasive diagnostic tests. Its core technology, ClarityDX®, uses advanced machine learning algorithms to create a disease risk score. ClarityDX is applicable to a wide range of cancers and other diseases. Its lead product, ClarityDX Prostate®, is a test that improves the accuracy of detecting clinically significant prostate cancer and uses biological data, clinical information, and machine learning models to generate a risk score for aggressive prostate cancer, marks a significant advancement in prostate cancer screening. It provides support to men and their healthcare providers in making more informed decisions about whether additional screening is required following a high prostate-specific antigen (PSA) test result.

Commenting on the news, Dr. John Lewis said: “This support from the University of Alberta Innovation Fund will help us continue to promote the use of the ClarityDX Prostate test by men suspected of prostate cancer.”

FinSMEs

23/04/2024