BioIQ Scores Venture Capital
At-Home Diagnostics for Individuals and Companies
Santa Barbara-based BioIQ announced that it secured $2.5 million in growth capital (Series B financing) primarily through the venture firm Great Pacific Capital, whose managing partner, Dave Gross, will now take a seat on the company’s board. BioIQ produces biometric tools that allow individuals to self-screen for chronic conditions including diabetes, cancer, and heart disease. The in-home consumer-friendly kits’ major market currently is corporate: Employees submit information anonymously to their employer, who can then tailor health plans employees’ needs. More kits may also be marketed in the future directly to consumers. Among other benefits, this would allow people to detect conditions–even before they experience symptoms–without creating a record that might disqualify them from obtaining health insurance.