The Venture Codex

Led · Seed · Feb 2025

Afynia Laboratories builds a blood test called EndomiR that detects endometriosis by measuring a panel of circulating microRNA biomarkers and using an algorithm to compare expression profiles to surgically confirmed cases. The company spun out of McMaster University and was founded in November 2021 by researchers including Dr. Lauren Foster and Dr. Jocelyn Wessel, with Dr. Jake Prigoff as CMO. Afynia is positioning EndomiR as a non-invasive alternative to surgical diagnosis, aiming to shorten long diagnostic delays for people with pelvic pain or infertility. The startup plans to seek regulatory approval as a laboratory-developed test (LDT) in Canada and expects a Canadian launch potentially as soon as this summer, with a U.S. launch targeted for early next year. Longer-term plans include expanding the microRNA platform to additional women’s health diagnostics and exploring lower-blood-volume sampling (e.g., finger-prick) though that is not yet available. Financially, Afynia has raised a $5M seed and previously about $1.5M in pre-seed funding from academic and angel backers. Afynia Laboratories is a medtech startup developing EndomiR, a proprietary microRNA panel run by PCR and an algorithm to generate a risk score for endometriosis from a single blood tube. The company was founded in 2021 by former McMaster University researchers Lauren Foster and Jocelyn Wessels and is based in Hamilton, Ontario. Afynia has completed studies expanding to 300 patients, participated in a CIHR-funded 1,000-patient study, and reported reproducibility across labs with only ~3% variance. The startup is pursuing a laboratory-developed test pathway in a CLIA-certified laboratory, has registered with COLA, and expects full regulatory compliance by September. On the commercial side, Afynia is serving eight fertility clinics and 35 fertility doctors, has surpassed C$100,000 in revenue, and operates a lab with capacity to process 50,000 tests per year. Longer-term plans include commercializing EndomiR in Canada and the US and then rolling out additional women’s health diagnostic products covered by other patents.

Led · Series C · Jan 2025

Geneoscopy leverages a proprietary, patented stool-derived eukaryotic RNA (seRNA) biomarker platform to develop diagnostic tests for gastrointestinal diseases. Its lead product, ColoSense, is an FDA-approved at-home, stool-based colorectal cancer screening test for average-risk individuals over age 45. The company pairs its RNA isolation platform with Bio-Rad’s Droplet Digital PCR (ddPCR) technology to achieve high sensitivity and specificity. Geneoscopy plans to launch and commercialize ColoSense and is working with Labcorp to provide broad availability so providers can order the test within screening programs. The firm is also investing in an innovative pipeline of diagnostic tests for inflammatory bowel disease, including tools for treatment selection and therapy monitoring. The recent financing is positioned to support commercialization, regulatory milestones, and continued product development. Geneoscopy is a St. Louis, MO–based life sciences company focused on developing diagnostic tests for gastrointestinal health. Its lead diagnostic uses stool-derived eukaryotic RNA (seRNA) to detect colorectal cancer and precancerous adenomas. The device was awarded Breakthrough Device Designation from the US FDA for its ability to reduce morbidity associated with colorectal cancer through advanced adenoma detection. Preliminary trials suggest the diagnostic can detect these lesions at a higher rate than existing noninvasive screening tests. The company intends to use recent funding to support the U.S. CRC-PREVENT pivotal trial, scale commercial infrastructure, and expand its diagnostic product pipeline. Andrew Barnell is the company's CEO. Geneoscopy is a life sciences company focused on developing diagnostic tests for gastrointestinal (GI) health. Its lead product is a colorectal cancer (CRC) screening test that quantifies eukaryotic RNA isolated from epithelial cells in stool to detect CRC and advanced adenomas. The company announced an oversubscribed $6.9 million Series A and plans to use the proceeds to advance the CRC screening test. The financing was led by Cultivation Capital and NT Investments, with Lightchain Capital LLC as a significant investor. Following the round, Bobby W. Sandage, Jr., Najeeb Thomas, and Drew Dennison are joining Geneoscopy’s board of directors. Geneoscopy highlights that stool-derived eukaryotic RNA biomarkers are highly sensitive for both cancer and precancerous lesions, and it intends to pursue other applications of its platform technology.