Alimetry, a New Zealand-based medtech startup, building wearable device to diagnose gastric disorders, raised $18M in Series A2 funding.
Here’s everything you need to know
Alimetry raises $18M
The funding round took place last month and was led by VC firm GD1 (Global from Day One). It also saw participation from Olympus Innovation Ventures, the American Gastroenterological Association GI Opportunity Fund, IceHouse Ventures, and other existing investors.
This brings Alimetry’s total funding to $34.3 Mn. Previously, it raised $10 Mn in Series A funding in 2022.
Alimetry and gut health
Gut health is an influential part of one’s well-being. It controls digestion, immunity, mood, and much more. If not properly cared for, gut issues can cause nausea, cramps, and bloating, making everyday life miserable. In fact, 1 out of 10 people experience abdominal pains related to meals.
The reality is diagnosing gut issues takes lots of invasive testing. Tracking down the exact cause is a further time-consuming process. Therefore, patients suffer too long before finding solutions.
However, this is bound to change with Alimetry’s new wearable that helps diagnose gastric disorders non-invasively.
Source: Alimetry website
Alimetry’s revolutionary development
Medtech start-up Alimetry Ltd has built an AI-powered wearable to diagnose gastric disorders.
Founded in 2019, Alimetry is based in Auckland with offices in the USA and New Zealand. It is committed to making gut health treatment easier and accessible.
The company’s wearable device uses non-invasive processes to ensure personalised, patient-friendly treatment solutions for gastric patients.
According to their co-founder and chief executive, Dr. Greg O’Grady, the tool is designed to overcome the guesswork phase quickly and start the treatment procedures.
“One of the main things we can do, for example, that’s unique to what we do, is we can diagnose whether a patient has a true gastric neuromuscular disorder or not, and completely non-invasively. This is a major advance for diagnostics of functional gastric complaints.” -Dr. Greg O’Grady to TechCrunch
About Alimetry’s wearable device
The gut sends out electrical currents, similar to the heart, but 100 times weaker. Alimetry’s wearable device is highly sensitive and detects the weakest currents right from the body’s surface. It works just like a quality electrocardiogram (ECG).
The device uses an array of 64 electrodes, which have extremely high density. This helps the device capture the faintest stomach activity.
Every array is for one-time use only, so a single array can’t be used on two patients. However, all other components of the device are reusable after cleaning.
The device’s key feature and advantage is that it can non-invasively detect whether you have a true gastric neuromuscular disorder.
How does Alimetry work?
To use Alimetry for diagnoses, you’ll have to visit a clinic that uses the Alimetry device. A professional places the device on your stomach and takes a benchmark record of your regular gut activity.
Then, they let the device stay positioned when you eat a light meal and after meals during digestion. The AI-assisted tool reads electrical signals from digestive noise and converts the data into significant clinical biomarkers that help to detect gut disorders.
You’re also asked to enter any symptoms you feel in Alimetry’s app which synchronises with the tool.
The device gathers data, sends them to the cloud, and processes them. One complete session takes around five hours after which they remove the device. Then, the recorded data is forwarded to your doctor in the form of a report.
This lets healthcare providers diagnose your condition faster and more accurately. They identify the phenotype or descriptive category applicable to your specific condition. Thus, it offers you personalised support according to your symptoms and root causes.
Alimetry device availability
Alimetry’s device and platform have passed several US FDA (Food and Drug Administration) clearances for being used as a diagnostic aid. Since then, it’s been working with 30+ hospitals throughout New Zealand, the USA, and the UK.
The company plans to get more approvals from key organisations as the product evolves.
The startup also plans to sell the hardware to hospitals only for now. There’s no additional licensing or software fee. However, this may change in the future.
Shortcomings and future
The chief executive mentioned that the device is not advanced enough to track every individual gut issue. However, it is developed enough to narrow down the potential causes of stomach discomfort. So, sometimes, patients may need more testing in addition to Alimetry’s wearable device.
Furthermore, Alimetry’s team also mentioned they want to expand to colon health to offer more well-rounded support.
Final Takeaway
Gastrointestinal (GI) tract issues are challenging to track and treat. As a result, one has to struggle for days with gut issues and spend lots of money and time on trial-and-error tests.
Alimetry’s wearable device can reduce the number of tests and steer the healthcare provider towards accurate diagnoses.
We feel Alimetry’s latest product can bring about a positive change in the GI healthcare scene.
What do you think?
Also, if you or a loved one is suffering from abdominal pain and any nearby hospital has implemented the use of this product, would you consider dropping by and experiencing the new-age diagnosis?
Let us know in the comments.
