Innamed

Innamed

Using at-home blood testing technology to enable personalized medicine

Print
Security Type
SAFE
Min Investment
$100
Location
Philadelphia, PA
Offering Date
February 19, 2021
Expected Close Date
April 30, 2022
Target Raise
$100.00K-$1.07M
Deal Notes

Price Per Share: $1.00

Company Description

Interfacing with the healthcare system is notoriously challenging. Scheduling appointments, determining insurance coverage, traveling, waiting, testing, scanning, picking up prescriptions, etc.…the list of manual tasks goes on and on. 

At InnaMed, we have reimagined a major part of this journey: we make monitoring and analyzing blood test data fast and seamless, and we’re also creating a one-stop platform through which you can access and experience digital health services.

Key Deal Facts

Raised $2M+, backed by Y Combinator and leading Silicon Valley investors
$1.4M+ in revenue in 2020 (6x YoY) from ongoing, multi-year pharmaceutical R&D collaborations
Received grants from NASA and US Dept. of Health & Human Services for innovative HomeLab® technology
9 patent applications and 5 peer-reviewed publications on technology
Initially targeted towards specific clinical applications totaling $5B+ in market potential
Led by innovators from UPenn and experienced execs from UCSF, Duke, $ASND, $ABT, and $CDNA

Use of Proceeds

$100,000

  • 96.25% - Research and development materials and contractors 3.75% - Wefunder intermediary fee

$1,070,000

  • 40% of funds would be used towards research and development materials and contractors. 40% of funds would be used for payroll. 16.25% - Facilities, marketing and legal purposes. 3.75% - Wefunder intermediary fee

Management Team / Advisory Board Bios

Eshwar Inapuri, CEO
Y Combinator-backed founder and bioengineer. Previously conducted R&D at UPenn for 4+ years combining microfluidics, optics and cloud computing to develop proteomics. Work published in PNAS and exclusively licensed to another venture-backed startup.

Anup Singh, CSO
Y Combinator-backed founder and biophysicist. Previously conducted R&D for 5+ years at UCLA and UPenn on early detection of cancers and traumatic brain injury. Invited conference speaker topics ranging from precision medicine to space health.

Tom Larson, Commercial Development Lead
Executive with 25+ years of experience in the biopharma and diagnostics industries. Most recently served as Chief Commercial Officer of Ascendis Pharma. Led launches of some of the most successful drugs including Humira and Pradaxa.

Deal Notes

Price Per Share: $1.00

Amount Raised : $0
Reveal the Score by Voting
_
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

A SAFE is an agreement between you—the investor—and the company in which the company promises to give you a future equity stake based on the amount you invested. It also involves some kind of a triggering event that must take place in order for you to get your future equity stake. Be careful as you may only get equity if a particular event is triggered.

Research Reports

No reports have been submitted

Become a Reporter

0 Comments