Medtech startup Metyos has secured $2.5 million in pre-seed funding from French investor Cenitz.
The Paris-based startup, which launched in 2021, is creating a remote biosensor that patients can use to track their chronic kidney disease (CKD).
CKD affects up to 800 million people worldwide — but there is currently no cure. The hope is that Metyos’ small wearable device — which patients can insert into their upper arm — will give a better idea of how to manage their condition.
“We are trying to slow down the decrease of the kidney function,” said cofounder and CEO Alexandre Boulanger. The main way this is achieved is by giving doctors real-time readings of how a patient’s kidney reacts to its diet and medication. The wearable device also spots warning signs of renal failure or hyperkalemia.
Patients can then proactively manage their symptoms based on these real-time findings, and consult doctors about the best way to adjust their lifestyle habits.
“We’ve developed this wearable device with our proprietary technology, and we have an IP,” Boulanger said.
He added that there is a high appetite for a startup dealing with chronic illnesses from government officials and investors alike.
“Today, remote patient monitoring approaches are moving forward, because the government is trying to find solutions to chronic diseases,” he said. The startup would make money by working with healthcare providers to ensure its services can be reimbursed.
French venture capital firm Cenitz led the pre-seed round, with participation from Kima Ventures, Advans Lab, and Bpifrance. Additional funding came from angel investors from DeepMind and Nabla.
With the fresh funding, Metyos will work on its product, which aims to go to market in 18 months, and start recruitment for clinical trials.
Check out the 9-slide pitch deck used to secure the fresh funds.
