Finnish biotech startup NADMED has secured $3.5 million in Series A funding. The round was led by Finnish science-based startup investor Nordic Science Investments (NSI). Additional funding was secured from previous investors Voima Ventures, which invested in Enifer and Kuva Space and University of Helsinki Funds, from a number of private European investors, and a grant from Business Finland.
How will it use the investment?
The startup will use the investment to enter into the US and other international markets with its proprietary nicotinamide adenine dinucleotide (NAD) measurement technology. This could help clinicians establish more precise and personalised treatments for various diseases.
What challenge does it tackle?
NADs are crucial molecules found in every cell of the body, playing a vital role in energy production, cellular repair, and growth, together with glutathiones (a powerful antioxidant in the body). Measuring NAD and glutathione levels is important because imbalances have been reported to be linked to various age-related health conditions, including metabolic disorders, cancer, heart and brain diseases, as well as muscle atrophy.
Accurate NAD and glutathione testing methods can lead to improved diagnosis, treatment, and monitoring of these conditions, making significant advancements in biotechnology and medical research and ultimately enhancing global health outcomes.
Demand from physicians and the pharma industry for a quick and reliable test method has rapidly increased in recent years as researchers have found more links between NAD and glutathione (together called REDOX-metabolites) levels and various diseases.
NADMED provides measuring kits for clinical laboratories and laboratory services to meet research, drug development, and clinical needs.
What does the company do?
Based on years of research from Professor Anu Suomalainen Wartiovaara’s laboratory at the University of Helsinki, NADMED’s testing method is the first on the market to measure all four NADs using fresh blood samples quickly and efficiently with the same accuracy as mass spectrometry.
NADMED’s key advantage is that its extraction method allows each metabolite to be measured individually, unlike any other method. Previously, mass spectrometry was the only available solution to accurately measure NAD+, but it is unable to measure reduced forms of NAD. Mass spectrometry is highly accurate but expensive and has low throughput and capacity.
Its analysis has been validated against mass spectrometry. kits are the only CE-marked medical devices for NAD testing on the market.
The company currently serves customers in 27 countries, including clinical laboratories (e.g., Synlab), universities (e.g., Newcastle University), research institutions (e.g., NIH), and pharmaceutical companies (e.g., Clene Nanomedicine).
“Investing in NADMED was a compelling choice for us, driven by the exceptional expertise of Professor Anu Suomalainen Wartiovaara, a globally recognized leader in metabolic disorders. For investors, the company’s diverse target market not only provides robust risk mitigation but also presents exciting growth opportunities across multiple sectors,” said Alexandra Gylfe, Founding Partner at NSI. “We are eager to leverage our strong U.S. science and biotech networks to support NADMED’s expansion into the U.S. market, enhancing their global footprint and driving further success in the years to come.”
“In the coming years, metabolism will be the hottest topic in medicine and biology, especially when applied to personalised health and disease understanding. In this dawning age of metabolism, NAD will be the new DNA,” said Jari Närhi, CEO and co-founder at NADMED. “We are pleased and grateful for the funding from these insightful investors to spread and further develop the unique technology to measure all REDOX metabolites – something that was not possible before. This investment will enable us to bring new capabilities to diagnostics, therapy monitoring, personalised medicine, and advancement of metabolic science for the benefit of mankind.”
