Phenomix Sciences, a biotechnology company specializing in precision medicine for obesity, has secured a total of $7.8 million in new funding. This includes $5.5 million from a Series A round led by new investors DexCom, Inc., and Labcorp, along with existing investors such as Health2047.
Additionally, the company has received a $2.3 million Phase II Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH).
Mark Bagnall, CEO of Phenomix Sciences, expressed enthusiasm about the new partnerships: “As leaders in their respective fields of lab testing and patient empowerment, we are excited to add DexCom and Labcorp as investors as we continue to scale our company. Labcorp will also provide laboratory testing services. After more than a decade of research from our founders, we are thrilled the wider industry is also seeing the need to treat the obesity epidemic seriously with clinically focused solutions.”
Phenomix Sciences aims to use this capital to accelerate the commercialization and adoption of its MyPhenome™ test within the obesity specialist market and the broader industry. The MyPhenome test is designed to help physicians develop effective treatment plans by identifying obesity phenotypes, which are subtypes of obesity caused by the interaction of a patient’s genes and the environment. The test categorizes patients into phenotypes such as Hungry Gut, Hungry Brain, and Emotional Hunger, thereby explaining the variability in treatment responses among individuals.
The funds will also support the development and launch of additional phenotyping tests, ongoing clinical studies, patenting novel insights, and establishing strategic partnerships with pharmaceutical companies and healthcare providers.
The SBIR grant will enable Phenomix Sciences to conduct further clinical studies to demonstrate the value of precision medicine in obesity treatment. This grant underscores the importance of Phenomix’s work and the esteemed reputation of its founders, Mayo Clinic physicians Andres Acosta, M.D., Ph.D., and Michael Camilleri, M.D., D.Sc. Specifically, the grant will fund a prospective study to further validate the accuracy of the MyPhenome test in predicting responses to obesity treatments.
Phenomix Sciences recently launched its new three-in-one MyPhenome obesity phenotyping test, which includes assessments for Hungry Gut, Hungry Brain, and Emotional Hunger, and is currently in use by providers in the U.S. The company is dedicated to leveraging its proprietary genetic tests, unique data sets, and advanced analytics to conquer obesity globally.
Phenomix Sciences, founded by Mayo Clinic physicians and researchers Andres Acosta, M.D., Ph.D., and Michael Camilleri, M.D., D.Sc., is on a mission to conquer obesity through precision medicine. With over 10 years of clinical research, the company utilizes extensive clinical and molecular information to improve the accuracy of predicting individual patient responses to specific weight loss interventions, thereby reducing variability in treatment outcomes.
