Loop Medical raises USD 6.4M to support US market entry

Loop Medical is developing a novel, minimally invasive device that allows for the collection of quality blood samples large enough to be fully compatible with common high-throughput blood analyzers while providing an easy, pain-free patient experience, improving safety and lowering costs. The device can be safely administered by a clinician or patient with just the push of a button. Positioned comfortably on the upper arm for a few minutes, the ergonomic device combines patented skin vasodilation and micro-incision technology to enhance capillary blood flow while ensuring low hemolysis (red blood cell destruction) levels. Its controlled extraction ensures low shear stress on red blood cells, and therefore, sample quality. The device will be targeted to the home, clinical trial and liquid biopsy testing markets for a combined total addressable market of $5.2 billion.

“This investment further validates our technology and the significant market opportunity we have ahead of us,” said Arthur Queval, founder and CEO of Loop Medical. “We thank SARSTEDT Group and Casdin Capital for sharing the belief in our potential and look forward to bringing our technology to U.S. healthcare providers, labs and patients.” In connection with the financing, Rainer Schuster, board member sales/marketing/R&D, SARSTEDT Group, and Shaun Rodriguez, director of life science research, Casdin Capital, will join the Loop Medical board of directors.

SARSTEDT develops, produces and sells devices and consumables for medicine and science. the broad portfolio includes products and services in the fields of diagnostics, laboratory equipment, hospital equipment, transfusion and laboratory automation. Ever since the company’s foundation in 1961, the german company has continued to grow to the point where SARSTEDT now employs a workforce of 2,900. 

(Press release / ES)