Durham startup Baebies, which recently shipped its 2 millionth test for newborns and other screening, has wrapped up a $10 million round of financing.
The funding news, which was announced Tuesday, reflects the growth of Baebies. The 2 million milestone came faster than projected, the company says.
Its Seeker technology was approved by the FDA earlier this year.
“When Richard West and I founded this company in 2014, we set a goal that by 2018 we would provide 2 million chances for a healthy start. Early intervention is critical and we are thrilled to have reached this milestone early. We never lose sight of the fact that every test shipped holds the potential to save a life,” said Vamsee Pamula, Baebies’ co-founder and President.
Added Richard West, Baebies co-founder and CEO: “We are getting closer to our goal of expanding newborn screening and pediatric testing worldwide to the millions of babies that don’t have access to it.”
The B round also was oversubscribed, a further indication of Baebies’ expanding reach.
Leading the round is BOE Technology Group, a semiconductor and Internet-of-Things focused company that launched in China in 1993.
The North Carolina Biotechnology Center also is a supporter of Baebies.
“Baebies digital microfluidic technology is the future of newborn screening methods and we’re proud to collaborate in technology development and play a role in bringing this technology to the global market,” said Lijun Mao, General Manager of BOE Sensor Technology, in a statement.
Added Wei Wu, PhD, Healthcare Investment Director of BOE Ventures: “As new technologies arise in healthcare, we want to back the most innovative and promising companies. Baebies has demonstrated rapid growth in the company’s product pipeline and team. The company is a tremendous fit with ourHealthcare business, which is committed to offering people-oriented healthcare services by developing mobile healthcare, digital hospitals, regenerative medicine and healthcare park solutions,” said Wei Wu, PhD, Healthcare Investment Director of BOE Ventures.
“This has been an exciting year for Baebies: our team has grown to 60 talented employees, we have secured FDA clearance for our SEEKER screening platform and we recently announced a global distribution partnership with Labsystems Diagnostics to expand the product offerings in the newborn screening space,” said Richard West, Baebies co-Founder and CEO. “We are getting closer to our goal of expanding newborn screening and pediatric testing worldwide to the millions of babies that don’t have access to it.”
“When Richard West and I founded this company in 2014, we set a goal that by 2018 we would provide 2 million chances for a healthy start. Early intervention is critical and we are thrilled to have reached this milestone early. We never lose sight of the fact that every test shipped holds the potential to save a life,” said Vamsee Pamula, PhD, Baebies co-Founder and President.
About Baebies
At Baebies our sole focus is to advance newborn screening and other pediatric testing worldwide. Baebies is guided by the vision that “everyone deserves a healthy start”. Baebies delivers innovative products and services to make life better for all babies. Baebies offers SEEKER®, the only newborn screening platform authorized by the U.S. FDA for lysosomal storage diseases and is developing FINDER, a rapid near-patient newborn testing solution. FINDER is not available at this time for sale or use in any territory. By bringing new technologies and new tests to the healthcare community, Baebies is providing hope to parents and the chance at a better life to newborns. For more information visitwww.baebies.com.
About BOE
Founded in Beijing, April 1993, BOE Technology Group Co., Ltd. is a world leading semiconductor and IoT company providing intelligent interface products and services for information interaction and human health. BOE’s three core businesses are Display and Sensor Devices, Smart Systems and Healthcare Services. For more information visit: www.boe.com.
