Verv secures CDN$3.8M seed round from Randox Laboratories

Sudbury, July 21, 2022 – Verv Technologies Ltd (Verv) is proud to announce a $3.8M CAD seed round from internationally recognized biotechnology and laboratory services leader, Randox Laboratories, UK. 

Two out of three people want to be able to test their blood at home. Verv is focused on creating the first of its kind consumer-oriented, affordable, high-quality blood chemistry analyser with disposable tests for home use, that will help individuals measure a wide range of analytes (i.e. cholesterol, vitamin levels, hormones). Verv will empower consumers, help them take control of their own health, transform access to blood testing, and improve timely decision-making between consumers and their healthcare providers. 

Verv’s lead investor, Randox Laboratories Ltd. is a globally recognized in-vitro diagnostics leader that develops diagnostic solutions for hospitals, clinical, research and molecular labs, food testing and more. Their technology is used in over 4 billion tests annually in over 145 countries, to over 100,000 entities. Randox Engineering has 30 years’ experience in the design, prototyping, testing, and manufacturing of diagnostic analysers. 

“We are thrilled to have Randox as a major investor in Verv to help propel us to commercial readiness and the opportunity to work with the original Founder and Managing Director of Randox, Dr. Peter Fitzgerald, who will join Verv’s Board of Directors. We aim to create great value for health-conscious consumers.” says Jeff Sutton, Founder and President of Verv Technologies. “Verv will use the investment to accelerate the completion of commercial products, expand the suite of tests for consumers, enhance our exceptional team, and complete regulatory processes over the next year.” 

Dr. Peter Fitzgerald, head of Randox Laboratories shared, “Randox has a global lens on the development of new technologies. We have a shared vision and belief in Verv’s unique, highly differentiated microfluidics approach to creating scalable, high-quality, low-cost blood testing technology for healthcare consumers. We anticipate a great journey ahead, in partnership with Verv.”

Verv and Randox share a commitment to transform testing on a global scale for the benefit of healthcare consumers. 

Contact:

Victoria Coleman, VP Business Development Email: [email protected], https://www.vervtec.com