French startup Metyos has raised €2.3m ($2.49m) in seed funding for the company’s wearable sensor device, which is designed to monitor the condition of patients living with chronic kidney disease (CKD).
The pre-seed funding, led by French investment company Cenitz, is aimed at advancing the company’s Metyos’ biowearable sensor and disease management platform that allows clinicians to track the real-time readings of biomarkers linked to CKD to monitor a patient’s kidney functions.
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Metyos has said that its disease management system can perform several diagnostic tasks ranging from tracking the impact of diet and medication to spotting warning signs of renal failure and hyperkalemia.
Additional funding came from medtech investment groups including KIMA Ventures, Advans Lab, and Bpifrance.
Metyos CEO Alexandre Boulanger said: “Our mission at Metyos is to move healthcare away from reactive care towards proactive disease management. A healthcare future where millions of CKD patients are empowered to take control of their health, and where they can access life-saving early detection and personalised interventions.
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“This funding, and the support and belief of the brilliant investors it brings with it, will help make this future a reality and help change the lives of so many patients and medical professionals worldwide.”
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By GlobalDataGlobalData’s Medical Device intelligence centre puts the market for remote monitoring at a value of around $600m, with that value estimated to rise to $760m by 2030. At the same time, the US National Institute of Health (NIH) estimates that CKD approximately affects 10% of the population and is the third fastest-growing cause of death worldwide. The US Centre for Disease Control additionally estimates that $87bn is spent every year treating the disease.
Cenitz co-partner Frederic Picq said: “Our investment in Metyos was driven by its impressive founding team, a clear and growing market need, and the life-changing potential of its technology. Alex and Olga bring a blend of entrepreneurial spirit and technical expertise that is rare and invaluable in the MedTech space.”
Elsewhere in the field of chronic kidney disease Novo Nordisk reported headline results from its FLOW trial where semaglutide demonstrated a 24% reduction in kidney disease progression and mortality.
