iAssay, Inc. Selected to be a CONNECT W/San Diego Venture Group COOL COMPANY
San Diego, California–May 28, 2020 — iAssay® Inc., a privately held developer of the world’s first open platform reader for Point of Care, Cloud Connected remote diagnostics, today announced that is has been honored by CONNECT W/San Diego Venture Group to be selected as a 2020 COOL COMPANY. “We received a record number of applications from extraordinary companies for the ‘Cool Companies’ program this year,” Mike Krenn, CEO of Connect.
Cool Companies is an annual capital program designed to match San Diego’s best technology and life sciences startups ready to raise Series A — with quality venture capital. The program selects top tier, local entrepreneurs raising institutional funding, and grants them opportunities for direct access to capital providers. The program regularly attracts over 200 VCs to the region annually. Since 2016, Cool Companies have raised over $400M, in just Series A institutional funding.
Unlike standard single use testing devices, the iAssay® System, can accept nearly any test cartridge or strip and easily archives results in The Cloud. One of the use models of the system is to be able to quickly onboard a critical test. When the COVID-19 Pandemic surfaced, iAssay quickly onboarded COVID-19 serology (antibody) test strips for screening patients and storing test data in The Cloud. Validation is currently being performed, and an Emergency Use Authorization (EUA) clearance with test strip partners is expected shortly. “These are critical achievements for iAssay as we begin executing on our strategy to provide point of care testing with our system by healthcare providers in laboratories, pharmacies, and in the comfort of one’s home,” said Lonnie Adelman, founder and CEO of iAssay. “It is a privilege being able to provide assistance during this fight against COVID-19.”
The iAssay® System (US Patents Granted, and International Patents Pending) is the world’s first open platform for wirelessly-connected point of care diagnostics. The functionality of a closet full of single function readers is replaced by one handheld device and adaptors, to adapt nearly any point of care test cartridge to the iAssay System. The HIPAA-compliant device aggregates test/patient/wearables data and pushes all data into the cloud. iAssay eliminates multiple daily trips with blood samples to central labs by testing the patient wherever they are. Testing at a clinic or at the patients’ bedside in a few minutes eliminates test result delays (and delayed diagnosis), eliminates patient sample handling and transportation costs, improves patient outcomes, and saves the healthcare system money. https://iassay.net/
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