Phenomix Sciences

Blood Tests to Target Obesity

Company Information

Website:

http://www.phenomixsciences.com

Sector:

Health & Wellness (non-internet/mobile)

Location:

Rochester, MN

Phenomix is a biotech company. It's developed a blood test to determine the underlying characteristics of obesity.

By testing a patient’s blood and placing them under a specific obesity “category,” the company’s treatment plans can result in 2x weight loss and fewer side effects vs. conventional care.

Phenomix was created by two obesity-focused doctors at the renowned Mayo Clinic, and the company has a provisional patent on the intellectual property for its blood test and testing algorithms.

Today, more than 93 million American adults are obese. Of this group, approximately 10 million spend an average of $3,000 per year on treatment options. These include medications, surgery, and special devices promising quick, dramatic weight loss.

The problem is that these people aren’t getting the most effective treatment because of a “one-size-fits-all” approach.

Phenomix is initially targeting this market and creating personalized treatment options based on its tests that place patients under one of four categories. These include:

• Not knowing when to stop eating during a meal…

• Excessive eating in between primary meals…

• Using food as a psychological reward…

• And being unable to easily burn off food.

By knowing which category a patient falls under, Phenomix can create a focused weight loss strategy, or what the company calls “targeted obesity treatment.”

In multiple clinical trials, Phenomix’s blood tests achieved 90% higher accuracy rate than standard phenotype testing. The company believes patients can lose 100% more weight with its treatment plans vs. conventional methods.

Because these tests are developed and conducted in a laboratory setting, and ordered by licensed health care providers, Phenomix does not need FDA approval.

The company plans to validate its analytical methods to meet federal regulatory standards in 2019 and begin selling its tests in 45 states. Each test will retail for approximately $600, competitive with other wellness/health-related tests.

Long term, Phenomix plans to use its blood tests to more effectively treat other issues such as diabetes, hypertension, and cardiovascular disease.

Team Background

Andres Acosta - MD, PhD
Michael Camilleri - MD

Co-Investors

Raising
$1.07 million
Committed
$340.418K (32%)
Current Valuation
$9.6 million Cap / 20% Discount
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
Convertible Debt
Finance History
  • $1 million
    2018-11-16
    Unknown
Notable Investors
Learn more on WeFunder