Progentec Diagnostics, Inc. Raises Funds to Support Advances in Lupus Detection and Management
-- New funding brings lupus-detection tools closer to commercialization
-- Acquisition of LupusCorner marks a step forward in developing a first-in-class lupus-management platform
OKLAHOMA CITY, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Progentec Diagnostics, Inc. (“Progentec”), a leader in the development of technological innovations in the field of diagnostics, today announced the completion of a second round of funding led by i2E, along with Chicago-based OCA Ventures and NMC Lifesciences, a leading global healthcare provider. The funding will help bring Progentec’s tool for identifying Lupus flare ups and a biomarker-based disease-activity index closer to commercialization. Technology created by the Oklahoma Medical Research Foundation (OMRF) is at the core of the platform being developed by Progentec.
Progentec today also announced the acquisition of LupusCorner, a leading patient-empowerment platform for people with systemic lupus erythematosus (SLE) and lupus nephritis. By integrating LupusCorner’s technology platform and data insights, Progentec is positioned to develop a first-in-class lupus-management platform. The founders of LupusCorner, Arif Sorathia and Brett Adelman, have joined Progentec and will help lead technology, outreach and growth initiatives.
Progentec’s technologies include highly accurate bio-marker based tests to diagnose disease before symptoms begin to show, as well as tests to monitor and predict disease activity levels in Lupus.
“We’ve made tremendous progress in developing a tool for the identification of lupus flare-ups before they occur,” said Mohan Purushothaman, CEO of Progentec. “Today’s funding round is the next step on our journey to making this and other advanced tools commercially available to patients with lupus, a disease that afflicts more than one million Americans, many of whom are women. The Progentec tests will become powerful tools to help patients and healthcare providers stay ahead of lupus.”
“NMC Lifesciences is excited to partner with Progentec,” said Prasanth Manghat, CEO and Executive Director NMC Health Plc. “As a leading global healthcare provider that has put key components in place to build a strong, inter-dependent, integrated, multi-vertical and multi-brand private healthcare network of a team of over 2,000 doctors serving 8.5 million patients in over 17 countries, NMC is looking forward to a strong symbiotic partnership with Progentec delivering value all across the healthcare delivery ecosystem.”
LupusCorner was founded in 2016 with the mission of transforming the lupus patient experience by creating easy-to-use and powerful technologies. Today, nearly 45,000 people with lupus interact with the LupusCorner platform each month.
“LupusCorner is a powerful platform that connects people battling lupus in an online patient community to share information and better manage the disease,” said Brett Adelman, a LupusCorner founder. “Our goal is to empower our users to be active participants in their healthcare and we are excited to be part of Progentec. This is a giant step towards uniting patient-generated data with clinical measures to improve patient outcomes.”
“The addition of LupusCorner and its users furthers our vision of creating a comprehensive disease-management platform and ensures that the patient voice will be a valued part of our process,” said Mohan Purushothaman, CEO of Progentec. “We look forward to advancing the platform and fulfilling the unmet need for lupus diagnostics and management tools.”
The Lupus Foundation of America estimates that there are as many as 1.5 million lupus (systemic lupus erythematosus or SLE) patients in the U.S. alone. Seen mostly in women between the ages of 15 and 44, lupus causes the immune system to recognize and attack the body’s own tissues. Lupus sufferers have periods of flares and remission with organs typically affected including the skin, kidneys, lungs and reproductive organs, as well as the cardiovascular system.
About Progentec Diagnostics, Inc.Progentec Diagnostics, Inc. (“Progentec”) is committed to exploring and commercializing state of the art diagnostic interventions along with digital and social infrastructure to improve access and outcomes for patients in therapeutic areas with a high level of unmet need. By collaborating with research institutions and individuals around the world, Progentec works towards bringing the latest technological innovations to the field of diagnostics. Progentec’s work is rooted in the belief that better diagnostics would not only help in ensuring cost-effective management of diseases, but also help tremendously in reducing the mortality and morbidity associated with these diseases.
About LupusCorner LupusCorner is a health management platform for people living with lupus systemic erythematosus and lupus nephritis. With an assortment of smartphone-optimized tools, LupusCorner supports the tracking of patient-generated data, health literacy, and community.