Key Takeaways:
– Microbiome and health diagnostic company, Viome, secured $25 million from investors
– Former Amazon SVP, Kal Raman, takes over as COO
– The company has developed CancerDetect, a diagnostic test for oral and throat cancer
– Viome aims to expand its diagnostic division for conditions such as IBS and IBD
– Viome also offers microbiome products based on individual health profiles.
Bellevue, Washington-based start-up, Viome, announced on Tuesday that it successfully raised $25 million from investors. The company also added to its executive team, bringing in former Amazon senior vice president, Kal Raman, as the new chief operating officer.
Expanding the Diagnostic Division
Raman’s newly assigned role will predominantly focus on leading the expansion of the diagnostic division of Viome. He brings extensive experience from his previous roles, which include senior vice president at Amazon and chief digital officer for Samsung.
One of Viome’s significant contributions has been the development of CancerDetect. It’s an advanced diagnostic test for detecting oral and throat cancer. The technology obtained a breakthrough device designation from the U.S. Food and Drug Administration, which allows it to receive expedited assessment in pursuit of FDA approval. The test boasts a noteworthy 90% sensitivity rate and a 95% specificity rate for cancer detection, as stated by the company.
Personal Tragedies Inspire New Opportunities
The cancer detection technology was a considerable factor that drew Raman to Viome. Raman lost his brother to oral cancer, which was diagnosed late. His experiences have driven Raman’s interest in early cancer detection.
In addition, Viome is looking into developing other diagnoses for health conditions like irritable bowel syndrome (IBS) and inflammatory bowel disease (IBD).
Viome: A Brief Overview
Naveen Jain, the founder and former CEO of InfoSpace, established Viome in 2016. Jain, also cofounder of public records firm Intelius, has shown his entrepreneurial prowess with Viome being his seventh venture.
Viome isn’t simply about diagnostic tests. It’s a multifaceted business offering microbiome products that are personalized to customers. The tailoring process involves analyzing saliva, stool, and blood samples to provide tailored dietary supplements, gut-supporting biotics, and food recommendations.
Despite the firms like Viome facing skepticism about their scientific rigor and meeting regulatory standards, experts unanimously agree on the consistent growth in the microbiome health market.
Securing Existing Partnerships and Exploring New Ventures
Viome has so far relied on a mix of tried-and-tested partnerships and surprising alliances. They’ve worked with Nordstrom to market at-home stool sample kits for biome analysis. They’ve also announced Paris Hilton as an investor and brand ambassador. Moreover, they’ve launched a personalized toothpaste, showcasing their commitment to customized personal health products.
The recently secured funding is a Series D round. It includes contributions from existing investors such as Khosla Ventures, Bold Capital WRG Ventures, and Marc Benioff of Salesforce, among others. To date, Viome has raised a total of $200 million in funding rounds.
