ChipCare Raises $2 Million Seed Round for Point-Of-Care Analyzer

9-16-2013 9-42-22 PM

In Canada, ChipCare Corporation raises $2.05 million in angel investments led by Maple Leaf Angels, and with additional funds contributed by MaRS Innovation, and the University of Toronto. ChipCare has also received funding directly from the Government of Canada through the Grand Challenges Canada, a program focused on overcoming significant technology barriers that, if removed, would lead to significantly improved global health.

Led by CEO James Fraser, former CEO of Dignitas International from 2002 through 2012, ChipCare is creating a point-of-care analyzer capable of analyzing blood in rural field environments, rather than in a lab. The device, once perfected, would be capable of testing for a variety of conditions which now require expensive lab tests that are limited in availability.

ChipCare is initially tackling HIV testing in rural Africa. The company envisions a day when care providers in remote communities would be able to deliver a much higher rate of HIV testing within the community, helping to curb a decades old epidemic.

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