Group K Diagnostics develops the MultiDiagnostic, a microfluidic point-of-care device that provides test results in 20 minutes. The device is intended to give patients direct access to medical results and enable physicians to adjust treatments more quickly. The company plans to use the new funds to expand laboratory infrastructure and hire lab technicians and support staff. It is also using resources to complete the work needed to obtain 510(k) clearance from the U.S. Food and Drug Administration. Leadership includes Brianna Wronko (CEO), Joe Geromini (COO) and Emilia Lopez-Ona (CSO). Financially, the company recently closed a $2.0M Series A after a prior $425K angel round; backers for the Series A were not disclosed. Group K Diagnostics is developing a point-of-care testing device that uses a microfluidic test strip read by a mobile app to deliver rapid results. Its liver-function panel, which needs only two drops of blood, is undergoing a clinical trial at the Hospital of the University of Pennsylvania. The company says it will use the new $800,000 angel round to expand its team and fuel clinical trials and to advance work toward FDA 510(k) clearance. The team totals 11 people split between Philadelphia and a four-person development team in India, and the company recently moved into a new office at 3025 Market. Group K is a Dreamit company and CEO Brianna Wronko said the product could be in providers' hands as early as July 2019 pending FDA approval. Wronko emphasizes basing progress on data and scientific validation in contrast to high-profile failures in the space.

Total raised

$3M

Funding rounds

2

Latest round

Series A

Latest activity

Nov 2018