Spirometrix, an emerging technology healthcare company focused on research, development and commercialization of novel breath analysis devices for applications in disease diagnosis and management, announced today the closing of an $8.6 million Series B Preferred Stock financing. The financing was led by biosensor manufacturing partner NGK SPARK PLUG CO., LTD (hereafter NTK), which invested approximately $5 million, and also included current investor Simul Investments. As part of the financing, a member of NTK will join the Board of Directors of Spirometrix.
Spirometrix, founded in 2011, focuses on research, development and commercialization of novel breath analysis devices for application in disease diagnosis and management for asthma. In recent years, non-invasive measurement and monitoring of Nitric Oxide (NO) in the exhaled breath is becoming established as the biomarker of asthma.
Both parties' goals are well-aligned. Spirometrix gains access to sophisticated, high-quality mass production of sensors, and NTK gains access to a new market in medical devices for utilizing its existing NOx sensor technology.
"We are excited to have NTK as an investor, strategic partner, and member of our Board of Directors, given NTK's commitment to high-quality sensor design and manufacturing," said J. Dean Zikria, CEO of Spirometrix. "This is a significant step in our strategy of creating a unique offering in the asthma space that includes sensors as well as a digital ecosystem allowing for insights leading to better clinical decision support," added Mr. Zikria.
"NTK will strive to develop and manufacture this NO sensor with the aim of further promoting patient-friendly exhaled NO measurement. This relationship is NTK's steppingstone to business development in the medical device and diagnostic fields, where we plan on executing a long-term strategy," commented Mr. Shinichi Odo, CEO of NTK.
Founded in 2011, the company's mission is to provide cost-effective, non-invasive products for the management of chronic diseases such as asthma, COPD, and chronic pulmonary hypertension using a nexus of consumer technologies for preventative healthcare through its proprietary set of sensors and algorithms.
About NGK SPARK PLUG CO., LTD
NGK SPARK PLUG CO., LTD., headquartered in Nagoya, Japan, is a comprehensive ceramics-processing manufacturer. The company holds a world-leading share of spark plugs and automotive sensors for internal combustion engines and also offers a broad line of packages, cutting tools, bioceramics and industrial ceramics. The company's global network of sales and manufacturing organizations and over 12,000 employees deliver value creation to the world, contributing to a sustainable society by developing products related to the environment, energy, next-generation vehicles, medical devices and diagnostic tests. The company's belief is to embrace the challenge of a new era under the catch-phrase of "manufacturing is our only one, and number one, product."