NASHVILLE, Tenn.--(BUSINESS WIRE)--IQuity Labs, a company specializing in leading-edge diagnostic tests for autoimmune disease and related conditions, today announced it has secured $2 million in seed funding. The funding will support the launch of IQuity’s test panels, which confirm the presence or absence of disease at the onset of symptoms.
“People often search for years to find answers that will help them address symptoms related to autoimmune disease,” said Chase Spurlock, PhD, CEO of IQuity Labs. “It’s our goal to equip providers with a tool to diagnose patients faster so they can lead happier, healthier lives.”
IQuity will launch its first test for multiple sclerosis in the second quarter of 2016, with panels for additional autoimmune diseases launching throughout the second half of the year. The National Institutes of Health estimates the cost of autoimmune disease is $100 billion per year, with one in 20 Americans living with such a condition. Early diagnosis and treatment is widely accepted to improve quality of life and decrease costs associated with misdiagnosis or delayed medical intervention.
“The rapid success of our fundraising effort is a result of our investors being directly affected by autoimmune disease. They believe in the science and how it can positively impact millions of patients,” stated Julia B. Polk, COO and CFO of IQuity Labs.
IQuity’s test was developed within Vanderbilt University Medical Center’s research community and has also received peer-reviewed grant funding from the National Institutes of Health. The minimally invasive test, using a simple blood draw ordered by a healthcare provider, marries a new technique with a proven technology.
“We are excited to work with IQuity to facilitate the commercialization of Vanderbilt University technology that provides the opportunity to transform the diagnostic process for providers and positively impact the lives of millions of patients,” said Alan Bentley, assistant vice chancellor for technology transfer.
In the second half of 2016, IQuity plans to launch additional tests currently under development in the fields of gastroenterology and rheumatology. Learn more at www.iquitylabs.com.
About IQuity Labs
IQuity Labs is an innovative biotechnology company developing leading-edge, rapid diagnostic tests that accurately confirm the presence or absence of autoimmune disease and related conditions at the onset of symptoms. This technology gives providers a new tool needed to achieve better outcomes and promote healthier living for their patients. For more information about IQuity Labs, visit www.iquitylabs.com.