Alimetry secures $18 million to develop a portable device to aid in the diagnosis of gastric disorders.
Intestinal health may not seem like an attractive topic, but about 1 in 10 people frequently experience gastrointestinal symptoms such as nausea, bloating, or cramps.
Gastrointestinal health may not be an attractive topic, but up to 1 in 10 people experience gastric symptoms such as nausea, bloating, or cramps after eating. Accurately pinpointing the cause of stomach discomfort is not straightforward without invasive testing. However, a New Zealand startup called Alimetry has created a portable device that can expedite the diagnosis of functional gastric issues. This non-invasive device consists of a matrix of flexible electrodes placed on the patient's stomach, allowing it to capture the electrical activity generated in the digestive system. Thanks to a cloud-based analysis that incorporates artificial intelligence to filter out digestive noise signals, the collected data is converted into useful clinical biomarkers to facilitate diagnosis.
Recently, Alimetry secured $18 million in a second Series A funding round led by venture capital firm GD1, adding to the approximately $10 million it raised in a previous Series A round in 2021. The startup also received initial funding in 2019, the year of its founding. Co-founder and CEO Dr. Greg O'Grady explains that the function of the stomach, much like that of the heart, is based on a natural electricity that prompts its movement. Although these electrical currents are very weak—one-hundredth the strength of those in the heart—the high-resolution approach has reliably detected this activity for clinical use.
Using the device requires the patient to visit a clinic where the equipment is set up, and the gastric activity is recorded at baseline. Then, during the consumption of a light meal, it continues to record, capturing data on how the stomach functions. Additionally, the patient logs any symptoms in the Alimetry app during the session, which lasts several hours, after which the device is removed and the data analysis is sent to the physician in a downloadable report. O'Grady notes that the information collected allows clinicians to determine descriptive categories that apply to the patient's condition, helping to personalize treatment.
The matrix of 64 electrodes used is disposable, while the device reader can be cleaned and reused. Alimetry's business model is based on selling hardware to hospitals, although it does not yet include additional fees for software or licenses—something that may change as new features are developed.
On another note, Alimetry has been testing its wearable in over 30 hospitals in the U.S., the U.K., and New Zealand for several years. The company has received four FDA approvals as a diagnostic aid and plans to apply for more as its product continues to evolve. While the current focus is on gastric issues, the technology is believed to have applications in pediatrics and conditions affecting the colon.
O'Grady mentions that the ability to use artificial intelligence for data processing has significantly enhanced the capacity to identify useful signals from gastric noise. With more data needed to train neural networks, the version of the product incorporating AI will be presented to the FDA for approval next quarter.
Although the Alimetry device may be a great aid in diagnosing functional gastric disorders such as chronic nausea, O'Grady clarifies that it will not cover all issues related to gastrointestinal problems. However, it can be helpful in assisting doctors in narrowing down possible causes of stomach discomfort.
The company plans to use part of its recent Series A2 funds to advance commercialization, seeking more hospitals to adopt its technology to provide diagnoses of neuromuscular disorders of the intestine, sensory disorders, and gut-brain axis disorders. O'Grady indicates that the expansion will be gradual and that they will work collaboratively with hospitals to ensure success in billing.
To date, Alimetry has recorded around 4,000 tests and expects to reach many more patients in the coming years. A gastroenterology professor at King's College London has commented that this technology is transforming the way patients with various gastric disorders are approached, expressing great enthusiasm for the advances it represents.