Auckland-based biotechnology startup DNAiTECH has secured NZ$1 million in a pre-Seed funding round led by Sprout Agritech. This investment marks a significant milestone for the company as it develops innovative instant diagnostic tests that operate without the need for laboratory facilities. The funding will enable DNAiTECH to refine its initial product, conduct further research and development, and initiate field trials in anticipation of commercialization.

Funding Overview

The pre-Seed round is notable not only for its financial backing but also for its collaborative nature. Alongside Sprout Agritech, the funding partners include prominent players such as Finistere Ventures, New Zealand's dairy giant Fonterra, and the venture builder OurCrowd. Additionally, DNAiTECH received a NZ$750,000 loan from Callaghan Innovation, which supports the commercialization of early-stage deep tech startups in New Zealand. This backing signifies confidence in DNAiTECH’s potential to impact the diagnostics landscape significantly.

Innovative Diagnostic Solutions

DNAiTECH has developed a pioneering technology that enables the rapid diagnosis of a broad spectrum of diseases affecting both humans and animals. The startup's co-founder, Murray Broom, emphasized the urgency of diagnosing diseases such as Johne's disease in livestock and measles in humans. These conditions can lead to severe economic losses and detrimental health impacts, particularly in developing nations. The company's technology is designed to provide immediate, accurate diagnoses at the point of care, empowering healthcare professionals to make informed treatment decisions swiftly.

Broom explained, “The ability to deliver an instant, accurate diagnosis at the point of care changes the game. It’s the difference between taking the problem to the lab or taking science to the problem.” This innovative approach is critical, especially given the lessons learned during the COVID-19 pandemic, where timely results were essential for effective response measures.

Technical Advancements

At the heart of DNAiTECH's technology is a method called Loop-mediated Isothermal Amplification (LAMP). This approach offers PCR-level accuracy while simplifying the testing process. The portable diagnostic device integrates with smartphones, allowing clinicians to receive rapid results in a matter of minutes, as opposed to the days typically required for laboratory testing.

Broom noted, “Our system is highly engineered yet portable and simple to use. Using a DNAiTECH device and innovative sample processing system, clinicians can get results in minutes compared to days for lab tests.” This level of efficiency is crucial in situations where every moment counts, such as in managing outbreaks of infectious diseases.

Global Impact and Future Plans

In addition to its domestic applications, DNAiTECH is making strides internationally. The company is set to contribute to a project in Senegal in 2025 aimed at rapidly diagnosing measles and rubella. This initiative, supported by Grand Challenges Canada, will focus on outbreak containment and disease management using DNAiTECH’s innovative diagnostic solutions.

The startup aims to position its technology not only within the agritech sector but also in the biomedical field. As part of this strategy, Kevin Darling has been appointed as Chief Commercial Officer. Darling, a qualified veterinarian with extensive sales and marketing experience, will spearhead the commercialization efforts to broaden the market reach of DNAiTECH’s products.

Industry Perspectives

Warren Bebb, Chief Investment Officer for Sprout Agritech, expressed optimism about the transformative potential of DNAiTECH's technology. He stated, “This investment will redefine how diagnostics are performed at the point of care, making a profound impact on sectors that are ripe for innovation.” Bebb highlighted the startup’s integration of digital and diagnostic technologies, which presents a scalable solution for an industry historically challenged by accessibility and affordability.

Team and Expertise

As part of its growth strategy, DNAiTECH is expanding its team to include specialists in biochemistry, molecular biology, and engineering. The startup has enlisted distinguished scientific and strategic advisors, such as Emeritus Professor Warren Tate, Professor Wayne Patrick, and Dr. Shirli Notcovich, who will provide valuable expertise and guidance as the company navigates its developmental phase.

DNAiTECH’s recent funding round represents a significant step forward for the startup as it seeks to revolutionize the diagnostics field with its innovative, portable technology. By providing instant, accurate diagnoses at the point of care, DNAiTECH aims to address critical health challenges faced by both humans and animals. As the company prepares for commercialization, its focus on scalability and accessibility could lead to transformative impacts on global health outcomes, particularly in underserved regions. Through strategic partnerships and technological advancements, DNAiTECH is poised to make a lasting difference in the diagnostics industry.