Nanopath, a medical diagnostics company developing rapid molecular testing technology, has raised $25 million in Series B funding to advance its point-of-care testing platform for women’s health.
The financing includes $2 million in non-dilutive grant funding. The round was co-led by Norwest and SV Health Investors’ MedTech Convergence Fund, with strategic participation from the Labcorp Venture Fund. Other new and existing investors included Elderberry Ventures, GingerBread Capital and Alumni Ventures.
As part of the investment, Catherine Kiani, Managing Partner at Elderberry Ventures, and Mindy Nye, Vice President of Labcorp Diagnostics, have joined Nanopath’s board as observers.
“We’ve spent years developing and pressure-testing a fundamentally new approach to molecular diagnostics for patients who have been overlooked for far too long,” said Alison Burklund, Ph.D., Co-Founder & Co-CEO of Nanopath. “This funding brings us closer to the next and most important step – translating that innovation into meaningful clinical impact.”
Developing Faster Molecular Diagnostic Tests
Founded in 2020, Nanopath has developed a clinical diagnostics platform based on plasmonic biosensing technology. Its proprietary optical biosensing system is designed to detect molecular targets without nucleic acid amplification, a process commonly used in PCR-based diagnostic tests.
The company aims to bring laboratory-quality molecular testing closer to patients by delivering results at the point of care in minutes rather than requiring samples to be sent to central laboratories.
Nanopath’s immediate focus is a 15-minute point-of-care vaginitis test. The company aims to help healthcare providers identify infections and provide patients with accurate diagnostic results during a single visit.
Funding to Support Clinical Trials and Commercial Preparation
Nanopath plans to use the new funding to reach important development and regulatory milestones for its vaginitis assay.
The investment will support manufacturing scale-up and the start of the company’s US Food and Drug Administration (FDA) 510(k) clinical study. Nanopath will also expand its clinical and commercial teams as it prepares for a potential product launch.
The company is developing the test with the goal of improving access to women’s health diagnostics across the United States. Its longer-term plans include expanding the platform to additional clinical applications.
However, the vaginitis test remains under development and has not been cleared or approved by the FDA. Its commercial availability will depend on successful completion of development activities and applicable regulatory review.
Founders Aim to Improve Women’s Healthcare
Nanopath was co-founded by Alison Burklund, Ph.D., and Amogha Tadimety, Ph.D., who serve as co-CEOs.
The founders are focused on improving access to advanced diagnostic testing, particularly in women’s healthcare. The company’s technology is designed to make complex molecular tests faster and more accessible outside traditional laboratory settings.
Headquartered in Cambridge, Massachusetts, at The Engine built by MIT, Nanopath has raised more than $46 million in total funding since its founding in 2020.
With its latest Series B financing, the company plans to move closer to clinical validation and potential commercialisation of its rapid diagnostic platform.
