Loop Medical raises USD 6.4 million to conquer US market

Vaud-based healthcare start-up Loop Medical has completed a USD 6.4 million Series A financing round for its innovative blood collection device.

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 on the upper arm for a few minutes, the 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 USD 5.2 billion.

Significant market opportunities ahead

The start-up based at the EPFL Innovation Park in Lausanne (canton of Vaud) has raised USD 6.4 million in a Series A financing round led by German medtech group SARSTEDT and life sciences investor Casdin Capital. Proceeds of the round will go towards US FDA clearance and ramped-up manufacturing of its blood collection device.

“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.”