Original from: ChannelLife New Zealand
Auckland-based biotechnology company DNAiTECH has secured NZD $1 million in funding to advance its development of instant diagnostic tests that do not require a laboratory.
The funding, led by Sprout Agritech, includes a NZD $750,000 repayable grant from Callaghan Innovation. This investment is directed towards developing cutting-edge diagnostic technology capable of identifying both human and animal diseases, such as Johne's disease in cattle and measles in humans, directly at the point of care.
Murray Broom, Co-Founder of DNAiTECH, explained the importance of instant diagnostics: "Diseases like Johne's in livestock or measles in humans drive significant losses, both economically and in terms of human life, especially in developing countries. The ability to deliver an instant, accurate diagnosis at the point of care changes the game. It's the difference between taking the problem to the lab; or taking science to the problem."
The diagnostic technology developed by DNAiTECH aims to bring rapid and actionable information directly to clinicians and vets. This can lead to improved treatment decisions, especially in critical situations where time is essential, like bovine viral disease and corneal infections.
Warren Bebb, Chief Investment Officer for Sprout Agritech, expressed his views on the potential impact of this investment: "This investment will redefine how diagnostics are performed at the point of care, making a profound impact on sectors that are ripe for innovation. DNAiTECH's integration of digital and diagnostic technologies presents a scalable solution for a historically challenging industry, offering a level of accessibility and affordability that has been unable to achieve before."
DNAiTECH utilises Loop-mediated isothermal amplification (LAMP), a highly accurate testing method, within a portable handheld device. This method combines biomedical diagnostic chips and smartphone integration, enabling accurate and immediate results that formerly required lab testing.
Murray Broom elaborated on this innovation: "Our system is highly engineered yet portable and simple to use. Using a DNAiTECH device and innovative sample processing system, clinicians can get results in minutes compared to days for lab tests." Broom also highlighted that the Gen3 device is being developed to meet the World Health Organisation's ASSURED criteria for point-of-care diagnostics.
DNAiTECH is already involved in practical applications of its technology. The company is working on a project in Senegal, supported by Grand Challenges Canada, to diagnose measles and rubella swiftly. Set to begin in 2025, this project aims to utilise DNAiTECH's diagnostic chips to aid in outbreak containment and disease management.
The company's future plans include the commercialisation of its technology in both agritech and biomedical sectors. Kevin Darling, appointed as Chief Commercial Officer, will support these efforts. Darling, a qualified veterinarian, brings varied sales and marketing experience to the company as it seeks to market its product broadly.
This round marks the tenth investment for Sprout Agritech with partners such as Finistere Ventures, Fonterra, and OurCrowd, along with support from the Te Pokap¨± Auaha Callaghan Innovation's Deep Tech Incubator programme.
DNAiTECH is expanding its team to include a range of experts in biochemistry, molecular biology, and engineering. Distinguished scientific and strategic advisors, including Emeritus Professor Warren Tate, Professor Wayne Patrick, and Dr. Shirli Notcovich, are also providing their expertise.
Murray Broom concluded by emphasising DNAiTECH's mission: "Making a substantial difference to the future of diagnostics is what drives us. We're solving a problem that has long plagued both human and animal health. It's not just about clever technology - it's about creating something impactful that can change lives on a global scale."
Source: DNAiTECH secures NZD $1 million for instant diagnostics
