A division of Koch Industries Inc. in Wichita is helping an international biomedical company develop a new way of testing for Covid-19 and potentially other diseases.
Koch Disruptive Technologies has led a $50 million Series B funding round into Sense Biodetection, which the company says will be used help it commercialize a molecular test for Covid-19.
The test, which is part of Sense’s Veros product platform, is an instrument-free process that can give rapid results and could potentially even be used at home since it eliminates the need for a testing station.
Sense, which is based in the United Kingdom, has previously worked with Koch medical technology company Phillips-Medisize on developing the product.
With the investment infusion led by KDT, the company hopes to accelerate the process of bringing Veros to the market.
“This Series B round is crucial in providing us with the resources to grow our Veros platform … and it is particularly important as we commercialize our Veros Covid-19 test,” Harry Lamble, CEO of Sense, says in a press release. “Partnering with KDT provides us the support we need to deliver on our ambitious plans to quickly scale manufacturing and commercialize the Veros platform and launch a whole pipeline of testing products, beginning with the Veros Covid-19 test.”
The funding continues more than $30 billion in technology-related investments by Koch companies in recent years, including those coming from the Chase Koch-led KDT division since its founding in 2017.
“KDT sees huge potential for Sense’s Veros platform to transform the way medical providers and patients approach healthcare, empowering more choice, increased access, and better quality of care,” Koch said. “Sense’s vision to decentralize the health-care system, through its flexible point-of-care testing capabilities for a variety of diseases, presents a foundational shift in an industry ripe for disruption.”
