Visby Medical raises $55M to bring lab-grade STI testing home
Israeli-founded startup’s FDA-cleared test delivers PCR results in 30 minutes.
Visby Medical, founded by Israeli professor Adam de la Zerda, has raised approximately $55 million, with the potential to reach $65 million, in a funding round led by Catalio Capital Management. Existing investors, including ND Capital, Cedars-Sinai Medical Center, Blue Water Life Science Advisors, Pitango Ventures, and John Doerr, also participated in the round. To date, Visby Medical has raised a total of $487 million.
The company develops PCR-based diagnostic kits for rapid home testing, including a new product for the detection of three common STIs in women, which will be marketed in the United States later this year.
In an interview with Calcalist, Itaai Harel of Israeli venture capital fund Pitango Health, an early investor in Visby, commented:
“We invested in the company six years ago at relatively early stages. Visby is now in advanced commercial phases. It has developed a product that enables laboratory-quality PCR testing at home, including STI tests for women. Both are currently available in the U.S. What once required a lab visit and FDA approval can now be done at home with the same quality. Instead of going to a lab, users can receive a kit at home or buy one at a pharmacy. This puts the capabilities of cutting-edge labs directly in the hands of consumers. I expect these tests will reach Israel by 2026. The company’s founders have strong ties to Israel, so it will likely be a priority market.”
The newly raised funds will accelerate the launch and distribution of Visby Medical’s recently FDA-authorized at-home Women's Sexual Health Test.
“This funding round will enable Visby to deliver on our vision of empowering consumers with reliable and lab-accurate health information from the comfort of their homes, starting with our at-home test for sexually transmitted infections for women,” said Dr. Adam de la Zerda, founder and CEO of Visby Medical.
Catalio Capital Management, a leading healthcare investment firm, will also support Visby’s go-to-market strategy. As part of the funding round, Isaac Ro, a partner at Catalio, will join Visby’s board of directors as an observer.
Additionally, Chuck Alpuche, Chief Operating Officer at Imperative Care, former EVP and Chief Operating Officer at Insulet Corporation, and senior executive at PepsiCo, joins Visby Medical's board as an independent director.
The company's proprietary technology platform delivers true PCR results in under 30 minutes through instrument-free, single-use PCR tests that fit in the palm of the hand. Currently, Visby Medical offers FDA-cleared tests for sexually transmitted infections (STIs), available both in point-of-care settings and now directly to consumers at home, and respiratory infections (COVID-19, flu A and flu B), available for point-of-care settings.
