Spirometrix raised $8.6 million in Series B round of funding from its biosensor manufacturing partner NGK SPARK PLUG (NTK) — which invested approximately $5 million — and its current investor Simul Investments. As part of the deal, a member of NTK will join Spirometrix’s Board of Directors. Moreover, the company will also get access to sophisticated, high-quality mass production of sensors. On the other hand, NTK gains access to a new market in medical devices for utilizing its existing NOx sensor technology, which is becoming established as the biomarker of asthma.
Spirometrix will use the funds to develop and commercialize its novel breath analysis devices for applications in disease diagnosis and management for asthma.
“This is a significant step in our strategy of creating a unique offering in the asthma space that includes sensors as well as a digital ecosystem allowing for insights leading to better clinical decision support,” said J. Dean Zikria, CEO of Spirometrix.