KIFFIK Biomedical, Inc., a biotechnology company supported by PHTA since 2022, has announced a major investment commitment from private alternative investment group GEM Global Yield – totalling up to $50m over the course of the next three years.
Harnessing the power of interstitial fluid (IF)*, KIFFIK’s wearable, non-invasive technology creates micro-openings in the epidermis to allow IF extraction via negative pressure, rather than with needles. This patented technique – called electroporation – allows real-time monitoring of more than 10,000 biomarkers, which in turn enables clinicians to diagnose, monitor and treat patients remotely.
GEM’s investment commitment secures ‘Unicorn-in-Waiting’ status for KIFFIK, with its total valuation now topping $185m. The latest funding will enable KIFFIK to continue development of its breakthrough technology, including partnering with academic institutions, medical technology companies and healthcare institutions.
One example of how IF can improve patient outcomes is through KIFFIK’s collaboration with the University of Birmingham’s Andrew Beggs, Professor of Cancer Genetics and Surgery. Their work has shown that prostate specific antigen (PSA) – a commonly used biomarker to detect prostate cancer – can be continuously monitored through a Kiffik device used at home, alerting medics instantly to the presence or return of the disease.
Les Lindsay, President EMEA – KIFFIK Biomedical Europe Ltd explained: “IF opens major opportunities in continuous monitoring, improved diagnostics and preventative medicine. This breakthrough technology will allow the research and clinical community to speed up the discovery and development of new therapeutics and empowers patients to be able to manage their own health, proactively and comfortably. With this investment from GEM and support from research partners like PHTA, we are well on the way to fulfilling the potential of IF, and delivering precise and personalised care for patients.”
Professor Gino Martini, PHTA’s CEO, commented: “KIFFIK was the first company to sign up to PHTA as they recognised Birmingham’s potential as a global centre of excellence for diagnostics and personalised medicine. Since then, we’ve created connections with leading Birmingham academics and clinicians – including our Clinical Immunology Service – to help KIFFIK develop the technology further.
“We’re delighted that KIFFIK has secured this major investment as it’s proof that the ecosystem we’re building is working, and we look forward to seeing KIFFIK continue to grow.”
Read the full investment story on Yahoo! Finance.
* IF plays a major role in delivering key nutrients and expelling cellular waste to and from the cells, via the circulatory system.
