CAMBRIDGE, Mass., August 27, 2019 – Boston Microfluidics (BMF), a developer of simple, intuitive blood collection devices, today announced it has raised $17.5 million in new funding. The Series A round was led by venture capital firm Anzu Partners and included leading global life sciences company (LabCorp Holdings). The funding will be used to bolster the company’s research and development efforts to continue improving BMF’s existing product line, and to develop new collection devices that make it easier for people, and their healthcare providers, to connect to their health.
“The majority of today’s blood collection for medical testing is done by phlebotomists or other trained medical personnel, using equipment that is not intended for use by consumers to collect their own specimens,” said Brandon Johnson, CEO of Boston Microfluidics. “BMF simplifies this process and brings healthcare to the consumer for an expanding menu of tests that can be done on these self-collected specimens. Working with our partners, we offer collection devices that can be used at home, making it easier for people to gain access to tests so that they can proactively monitor their health.”
“Using our device, consumers can simply prick their finger, place a few drops of blood into the device, close it, then drop it in the mail to the lab – all without leaving their home,” said Johnson. “And it only requires about five percent of the amount of blood compared to taking it from a person’s arm.”
Boston Microfluidics’ flagship product, the BMF Sample Collection Device, is the device used in the at-home collection kits offered through LabCorp’s consumer-initiated wellness testing platform, Pixel by LabCorp™. In addition to the at-home collection kits, Pixel by LabCorp offers certain laboratory testing for purchase to be collected at LabCorp’s patient service centers.
“LabCorp has been a great strategic partner to help us start getting our device into the hands of consumers,” said Johnson. “And that’s really just the beginning. We looking forward to expanding our base to reach more people around the world, and creating new products to make it easier for them to collect high quality samples.”
Boston Microfluidics is the first investment made by Anzu Partners’ second VC fund, which was announced in April 2019.
For more information about Boston Microfluidics, please visit https://www.bostonmicrofluidics.com.
About Boston Microfluidics
Boston Microfluidics develops simple, intuitive, and needle-free blood collection devices designed to greatly simplify and revolutionize blood testing globally. Its mission is to design devices that make it easier for people, and their healthcare providers, to connect to their health, while reducing the barriers that prevent people from getting blood tests. For more information, please visit https://www.bostonmicrofluidics.com.
About Anzu Partners
Anzu Partners is a venture capital and private equity firm that invests in breakthrough industrial technologies. Anzu teams with entrepreneurs to develop and commercialize technological innovations by providing capital and deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com. On Twitter: @anzupartners.