Jun 13, 2019
ST. LOUIS – Readout, an early-stage digital health company, announced completion of its initial funding round, led by BioGenerator, the investment arm of BioSTL, and Synchrony Bio. The emerging digital health company increases engagement and adherence through novel in-home, non-invasive measurements of health biomarkers. Readout has developed a highly-accurate, patent-pending technology with market release later this year.
“Synchrony Bio invests in disruptive healthcare technologies with strong market pull and where our focused expertise can add significant value,” said Paul Olivo, MD, PhD, Managing Director of Synchrony Bio. “Devices that are convenient, non-invasive, and solve problems in quickly growing markets are compelling opportunities.”
Readout was recruited to St. Louis from San Francisco by BioGenerator Entrepreneurs in Residence Jim Howard and former Head of Research at Virta, James McCarter, MD, PhD. Howard, who most recently was CEO at Washington University in St. Louis spin-out SentiAR, is Readout’s CEO, while McCarter is an investor and scientific advisor. The company is headquartered at the BioGenerator Labs in the Cortex Innovation Community in St. Louis.
“Six in 10 adults in the U.S. live with chronic disease,” said James McCarter, MD, PhD. “Readout allows these patients to monitor and understand important information about their health that supports them in making better lifestyle choices.”
Concurrent with the financing, the quickly growing company expanded its leadership team with an additional hire. Ismene Grohmann joined as Head of Global Marketing. Grohmann was previously Senior Director Global Strategic Marketing at Abbott Diabetes Care.
“The Readout team is passionate about technologies that empower patients and consumers to take more control of their health,” said Grohmann. “I am thrilled to join Readout as it commercializes these exciting solutions that help patients put their health in their hands.”
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Readout is a digital health company that increases engagement and adherence through novel in-home, non-invasive measurements of health biomarkers. Readout has developed a highly accurate technology that replaces invasive measurements. The company’s growth will stem from global expansion, future indications, and additional products. Visit www.Readouthealth.com for more information.
BioGenerator, the investment arm of BioSTL, produces a sustained pipeline of successful bioscience companies and entrepreneurs in St. Louis by creating, growing and investing in promising new enterprises. Visit www.BioGenerator.org for additional information, and follow us on LinkedIn linkedin.com/company/BioGenerator and Twitter @BioGeneratorSTL.
About Synchrony Bio
Synchrony Bio seeks to achieve consistently superior investor returns in early-stage biomedical and life science ventures by aligning seasoned talent, staged investment capital, and process efficiencies. Careful and coordinated alignment of all three is key to overcoming unique challenges faced by medical device and diagnostics ventures, in order to realize significant upside and superior returns. Synchrony’s extended network of experts and advisors includes professionals with deep, cross-functional experience and backgrounds. Visit Synchronybio.com for additional information.