Covid Apollo Project Makes Investment in Rhinostics to Accelerate Covid-19 Testing Volumes Through High Throughput Sample Accessioning
In a Series A round,Covid Apollo announces its investment in Rhinostics, an early-stage company that provides a novel solution of enabling comfortable sample collection, rapid accessioning, and automated cap removal that can be linked to high throughput Covid-19 assays to remove wasted time, headcount and costs from laboratory workflows.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210311005325/en/
Revolutionizing Laboratory Workflows. The RHINOstic automated nasal swab seamlessly integrates rapid sample accessioning and decapping with rapid assay worklows. (Photo: Business Wire)
The Covid Apollo Project brings together expertise and capital to find and help scale the most promising Covid-19 diagnostic opportunities. Originally funded under the leadership of RA Capital Management, the Project includes Redmile Group, Samsara BioCapital, Perceptive Advisors, and Bain Capital. “Returning to school and work requires sustainable testing solutions,” said Parker Cassidy, Principal at RA Capital Management and a member of Covid Apollo’s Board of Directors. “Covid Apollo is focused on finding and accelerating the most promising COVID testing solutions to rebuild testing paradigms to address the unique challenges that the pandemic has presented. Rhinostics is a great example of a company bringing new technologies and thinking to a segment of the laboratory workflow that is antiquated and ripe for innovation and acceleration.”
“The investment in Rhinostics is right on mission for Covid Apollo. With our investments, we are aiming to accelerate technologies that can immediately impact COVID testing, which still struggles to meet testing demand, while also providing new tests and diagnostic tools and processes to enable ubiquitous testing in the future, providing not only better pandemic protection and monitoring but also new testing paradigms, that will empower patients and consumers to live safer and healthier lives,” commented Stefan Willemsen, Chief Executive Officer of Covid Apollo. He adds that “the team at Rhinostics has rapidly executed on its strategic plan to bring their products to market, already providing significant volumes of product into COVID testing laboratories. We are excited to support their next phase of growth, commercialization and global impact on the pandemic.”
Rhinostics spun out of Harvard University to commercialize a novel automated nasal collection device invented in partnership by two Harvard faculty, Mike Springer, Associate Professor of Systems Biology at Harvard Medical School; and Richard Novak, Lead Staff Engineer at the Wyss Institute for Biologically Inspired Engineering. The novel nasal collection swab has features that can increase sample throughput by more than 10-fold while removing labor and errors from the laboratory workflow. The swab is integrated onto a cap that can be automated for removal from the tube while all 96 samples are simultaneously accessioned through scanning a 2D barcode on the bottom of the tubes. The product, registered as a Class I exempt medical device with the FDA, is currently being testing in several clinical trials, and the company is beginning an Emergency Use Authorization study comparing the RHINOstic™ swab to nasopharyngeal assays with a variety of polymerase chain reaction (PCR) assays. The product provides an immediate impact for increasing COVID testing efficiencies while being applicable to a broader range of respiratory viral, bacterial, and genetic testing using the PCR and next generation sequencing (NGS).
Cheri Walker, Chief Executive Officer of Rhinostics, commented, “We are thrilled to have Covid Apollo as a partner and investor to join our efforts to positively impact laboratory workflows and make a major impact on COVID testing volumes. Our missions are perfectly aligned to make a difference now. In addition, having Stefan as a board member will be a huge asset, as he is bringing more than 20 years of experience in leadership roles in the IVD industry to our fast-growing company, providing strategic advice and keen business insight. Together, we can change laboratory workflows for COVID and beyond.”
For decades there has been no innovation in viral collection and the process of moving samples into laboratories. The Rhinostics comfortable nasal swab solution brings new materials, better assay performance, dry shipment, instantaneous accessioning, and automated cap removal, all of which together can allow labs to significantly increase their sample throughput with no increase in footprint or staffing. This is changing the way laboratories think about their workflows.
About Covid Apollo Project
Covid Apollo Project aims to enable a safe and sustainable return to work and school by identifying, assembling, developing, and scaling the most promising COVID diagnostic opportunities. Covid Apollo was organized and funded under the leadership of RA Capital Management, a prominent biotechnology-focused investment firm, in collaboration with Redmile Group, Samsara BioCapital, Perceptive Advisors, and Bain Capital, and with legal support from Goodwin Procter. Covid Apollo is a funding founder of the $6M X-Prize competition to develop faster, cheaper and easier to use COVID testing methods at scale.
Rhinostics is revolutionizing laboratory workflows to link sample to result seamlessly. The company’s products improve sample collection performance while removing costs and time compared to traditional collection and intake. The products bring new materials, new collection types, rapid accessioning and automation to remove caps and move samples into high throughput workflows with little human intervention. The RHINOstic™ nasal swab provides features that increase sample throughput by more than 10-fold while removing labor and errors from the laboratory workflow. The swab is integrated onto a cap that can be automated for removal from the tube while all 96 samples are simultaneously accessioned through scanning a 2D barcode on the bottom of the tubes. The product provides an immediate impact to increasing COVID testing efficiencies while being applicable to broader respiratory viral, bacterial, and genetic testing using the polymerase chain reaction (PCR) and next generation sequencing (NGS). The RHINOstic™ product is registered as Class I exempt medical device with the FDA and is available for purchase. To learn more, visit https://www.rhinostics.com.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
LEO Pharma Presents Long-Term Safety and Efficacy Data for Tralokinumab in Adults With Moderate-to-Severe Atopic Dermatitis at AAD VMX 202123.4.2021 16:05:00 CEST | Press release
LEO Pharma A/S, a global leader in medical dermatology, today announced results on the long-term safety and efficacy profile of tralokinumab in adult patients with moderate-to-severe atopic dermatitis. Results were shared as an oral presentation during the American Academy of Dermatology Virtual Meeting Experience (AAD VMX) 2021. Tralokinumab is a high affinity, human monoclonal antibody that specifically binds to and inhibits the IL-13 cytokine, a key driver of atopic dermatitis signs and symptoms.2,3 It is an investigational therapy in clinical development, and its safety and efficacy are currently being evaluated by regulatory authorities. The interim analysis at 56 weeks in the ECZTEND trial (NCT03587805) showed tralokinumab 300 mg every other week plus optional topical corticosteroids (TCS) demonstrated long-term improvements in itch, sleep, and in atopic dermatitis signs and symptoms.1 Patients who had enrolled in pivotal Phase 3 trials ECZTRA 1 and 2 who continued into ECZTEND w
Merck Announces New Data Strengthening Evidence for Continued Safe and Effective MAVENCLAD ® Use During the COVID-19 Pandemic23.4.2021 15:11:00 CEST | Press release
Not intended for UK and U.S. based media Merck, a leading science and technology company, today announced a new analysis from the MAGNIFY-MS sub-study showing a specific immune repopulation pattern in patients with relapsing multiple sclerosis (RMS) treated with MAVENCLAD® (cladribine tablets), which may contribute to their ability to fight infections and develop protective antibodies from vaccines. The data were presented at the 2021 American Academy of Neurology (AAN) Annual Meeting that was held virtually 17-22 April 2021. In the MAGNIFY-MS study, reduction of memory B cells occurred as early as one month after MAVENCLAD initiation with lowest levels sustained for up to 12 months, while naïve B cells, which are typically required for the generation of antibody responses following vaccination, began recovering immediately. Previously shared data from MAGNIFY-MS indicated that patients receiving MAVENCLAD are able to mount responses to influenza and varicella zoster vaccines, irrespec
Xsolla Offers Exit Strategies to Game Studios for Exit Advising and Planning23.4.2021 15:00:00 CEST | Press release
Xsolla, the video game commerce company powered by its Transaction Engine and Business Engine to help developers and publishers market, sell, connect and optimize their games globally, has announced Xsolla Exit Strategies. The new service will connect development studios with financial and transaction advisors, guiding them through the process of selling their game property or studio, from due diligence preparation to exiting. The unveil of Xsolla Exit Strategies comes full circle from Xsolla Funding Club, launched March 2019, which provides matchmaking between vetted game projects and qualified investors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210423005013/en/ Let Xsolla Exit Strategies match you with a financial and transaction advisor to help meet your exit goals. (Graphic: Business Wire) The gaming industry continues to flourish as demand is high for strategic partnerships and acquisitions for both game companies
Wipro Achieves Google Cloud Partner Specialization in Application Development23.4.2021 14:33:00 CEST | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has achieved the Google Cloud Partner Specialization in application development. This marks the fourth Partner Specialization badge that Wipro has received from Google Cloud, following recognition for outstanding cloud security, migration, and work transformation. This specialization demonstrates Wipro’s capabilities across multiple areas as a Google Cloud SI partner. As a trusted Google Cloud partner, Wipro can help customers leverage the best of Google Cloud platform as they develop and manage cloud-native business applications, enabling faster time to market, increasing scalability of applications and integrating them with external and internal systems in the IT landscape. This specialization will allow Wipro’s team of certified professionals to accelerate the customer modernization journey, increase agility and adapta
LEO Pharma Receives Positive CHMP Opinion of Adtralza ® (tralokinumab) for the Treatment of Adults With Moderate-to-Severe Atopic Dermatitis23.4.2021 13:59:00 CEST | Press release
LEO Pharma A/S, a global leader in medical dermatology, today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion and recommended granting a marketing authorization of Adtralza® (tralokinumab) for the treatment of moderate-to-severe atopic dermatitis in adult patients who are candidates for systemic therapy. The CHMP positive opinion is one of the final steps before the European Commission makes its decision on the Marketing Authorization Application for use of Adtralza, an investigational therapy in clinical development, throughout the European Union. This final decision is expected in the coming months and if authorized, Adtralza will be the first fully human, monoclonal antibody available to specifically target the IL-13 cytokine, a key driver of atopic dermatitis signs and symptoms. Adtralza specifically targets IL-13 with high affinity and is developed to improve the symptoms of atopic derma
Schlumberger Announces First-Quarter 2021 Results23.4.2021 12:50:00 CEST | Press release
Schlumberger Limited (NYSE: SLB) today reported results for the first-quarter 2021. First-Quarter Results(Stated in millions, except per share amounts)Three Months EndedChange Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 SequentialYear-on-yearRevenue* $5,223 $5,532 $7,455 -6% -30% Income (loss) before taxes - GAAP basis $386 $471 $(8,089) -18% n/m Net income (loss) - GAAP basis $299 $374 $(7,376) -20% n/m Diluted EPS (loss per share) - GAAP basis $0.21 $0.27 $(5.32) -22% n/m Adjusted EBITDA** $1,049 $1,112 $1,347 -6% -22% Adjusted EBITDA margin** 20.1% 20.1% 18.1% 0 bps 203 bps Pretax segment operating income** $664 $654 $776 1% -14% Pretax segment operating margin** 12.7% 11.8% 10.4% 88 bps 230 bps Net income, excluding charges & credits** $299 $309 $351 -3% -15% Diluted EPS, excluding charges & credits** $0.21 $0.22 $0.25 -5% -16% Revenue by Geography International $4,211 $4,343 $5,225 -3% -19% North America* 972 1,167 2,180 -17% -55% Other 40 22 50 n/m n/m $5,223 $5,532 $7,455 -6% -30%
ANAORI kakugama: The New Cooking Tool Shaking Up the Culinary World23.4.2021 12:30:00 CEST | Press release
Japanese brand ANAORI, a leader in manufacturing carbon graphite products, has developed a groundbreaking cooking tool that combines new technologies and natural materials in a unique design. In the coming weeks, renowned chefs from around the world will apply their expertise to showcase the potential of ANAORI kakugama. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210423005016/en/ ANAORI kakugama Watch the ANAORI kakugama video here ANAORI kakugama: The Culinary Tool Combining Tradition and Innovation The philosophy of ANAORI was born out of respect for Japanese culture, rooted in a tradition of living in harmony with nature. Naturality according to ANAORI means understanding the principles of nature without confronting it, multiplying its powers by means of minimal intervention, in order to best utilise it. The Japanese company unveils two ANAORI kakugama models in two different sizes, to cook with the rhythm of the seas
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom