New investment: FindOut Diagnostic
Blq leads a round of SEK 7,5 M in the HealthTech company FindOut Diagnostic. FindOut are looking to launch their unique FindOut CRP Test during the autumn. The test rapidly and safely measures infection levels in the body. With the novel self test on the market, we will be able to seriously connect digital and physical care, says Kamjar Hajabdolahi, founding partner blq invest.
FindOut’s vision is to make health data available on the individual’s terms. Their diagnostic self tests are available in the Swedish and Norwegian pharmacies. FindOut already has a rapid and safe self test for gluten sensitivity. With blq’s investment, FindOut will be able to take the last steps to attain CE-certification and launch the first digital CRP self test on the market.
– We are in the final phase of our development of a quantitative self test to measure the concentration of C-reactive protein (CRP) in blood between 0-150 mg/L in under 15 minutes. Through our smartphone app that uses deep learning and the smartphone camera, we enable one of the most common lab tests in the home environment. This revolutionizes the way we access and can share health data with our healthcare provider, says FindOut Diagnostic’s CEO Denise Luxenburg Stuifbergen.
More than 12 million CRP tests 2020
In 2020, more than 3 million digital healthcare appointments and 12 million CRP tests were performed in Sweden. Despite a rapid development in digital healthcare appointments, in many cases blood sampling and lab analysis are required to set the diagnosis. With FindOut’s rapid and safe self tests, the digital healthcare chain remains intact.
– 1 in 3 digital healthcare appointments is infection-related and 2 in 3 would benefit from a diagnostic test to set diagnosis and treatment regimen. We are at the forefront of digital diagnostics and our ambition is to become a world leader in this growing segment. With our self tests, we can reduce time from the first patient interaction to diagnosis from one day to one hour. This saves resources and time for patients, not to say the least for patient groups with chronic illness and multi-disease, Denise continues.
First health-tech investment
Blq is now making its first HealthTech investment. Kamjar Hajabdolahi is looking forward to supporting with their active company-building approach.
– FindOut has a novel technology to fully link digital and physical healthcare in a way that benefits both patients and caregivers. This too becomes more cost-effective for society as a whole. We look forward to supporting FindOut’s on a broad front this autumn together with competent investors such as AddHealth Media, Lars Lindgren and Krim Talia, says Kamjar Hajabdolahi, founding partner blq invest.
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