ONAMI Gap company Nemametrix closes $5M funding to fuel growth from lab to clinic
Thursday, March 7th, 2019
Investors include the Oregon Venture Fund and Rogue Venture Partners
As reported in the Portalnd Business Journal, ONAMI Gap funded company Nemametrix, headquartered in Eugene, OR, a biotech company that developed DNA testing equipment using nematode worms, has raised another $5 million, according to a filing with the U.S. Securities and Exchange Commission.
Nemametrix first received ONAMI funding in 2012 and has since also garnered $4.5 million in grant funding from the National Institutes of Health and other entities and is currently making enough in revenue to “come close to sustaining” its operations, company CEO Matt Beaudet said.
NemaMetrix puts genetic material from patients with inherited diseases inside microscopic animals called nematodes to determine the diseases' nature and hone potential future therapies. The process takes about three months.
The Portland Business Journal article can be found here.
