Bloom Diagnostics off to a good start with $11.7 million

Founded in 2018 by Angelica Kohlmann and Thomas Kupper, the Medtech startup Bloom Diagnostics is developing a smart diagnostic system for a wide range of medical conditions. Its flagship product, the Bloom System aims to impact the healthcare market by making smart testing accessible to everyone. Pin-prick blood samples are captured in the Bloom Test strip and then deployed into the Bloom Lab. Cloud-based algorithms aggregate test results with other measurable indicators of illness alongside medical history, lifestyle and individual symptoms giving immediate and fully encrypted feedback through a personalized report on the Bloom App. The entire smart testing process takes around ten minutes. The Bloom System also allows consumers to easily collect, track and share health biomarkers with medical practitioners.

The Bloom System as a test kit for COVID-19
Reacting to the onset of the Coronavirus pandemic, Bloom Diagnostics has developed a fully integrated COVID-19 serological test for professional use into the Bloom System, validated by Professor Adriano Aguzzi, director of the Institute of Neuropathology at the University Hospital Zurich. The test can help authorities understand the rate of spread and immunity development in a certain region and may be valuable to track the effectiveness of a vaccine. The data also allows for insights such as the rate of infection among different age groups and genders, geographical locations and connections to other diseases.

Bloom Diagnostics is preparing to launch its COVID-19 antibody test for professionals to prove the ease of use and demonstrate the value of the real-time feedback to lay users in a controlled professional environment first. The Bloom COVID-19 test will not only help relieve healthcare systems around the globe but also support them with valuable data of the pandemic and immunity after infection with SARS-CoV-2.

Series B funding to fuel R&D and expansion
Bloom Diagnostics has recently closed a US $11.7 million Series B funding round led by Thomas Pfisterer from WILD Group. The proceeds from the round will be used for additional R&D and to drive expansion throughout Europe and the US. Among their early investors are Speedinvest from Austria and Canadian Walter Group.

The ISO-certified company is in the process of securing CE marking in Europe in Q3 2020. Bloom Diagnostics aims to rapidly add to its range of capabilities to accelerate the pace of clinical discoveries and, ultimately, the development of new therapies.

Thomas Kupper, Co-founder and Chief Product Officer at Bloom, said: “There is a need for a tertiary layer of diagnostic devices between individuals and the traditional healthcare system. This layer has seen its inception with products like the first LFA-based pregnancy tests in the 1970s. We think it’s overdue that this layer develops into something much more elaborate, helping individuals gain insights into their health in a wide range of situations. Combining those insights, globally, anonymized and in real time, will generate improvements that benefit the public. We don’t see ourselves as a replacement for many players of the traditional healthcare industry, but as a direly needed ally to support an overburdened system.”

(Press release/RAN)