Tenomix
Overview
Tenomix is a medical technology startup founded in 2021, based in London, Canada. It focuses on developing innovative solutions for cancer screening and pathology diagnostics. The company was established by Saumik Biswas, Eveline Pasman, Michael Lavdas, and Sherif Abdou, all alumni of the Medical Innovation Fellowship program at Western University. Known for its pioneering device, the "Lymphonator," Tenomix has successfully secured funding of $2.1 million in 2024, indicating strong investor confidence in its mission to revolutionize cancer staging, particularly for colorectal cancer.
Recent Developments
- March 2024: Tenomix closed an oversubscribed $2.1 million funding round. This financial injection aims to support the company in expanding its technical team, accelerating intellectual property applications, and completing validation studies with North American hospitals to pave the way for regulatory approval by FDA and Health Canada.
- Early 2024: The startup raised $1.47 million in a seed funding round led by the Ontario Bioscience Innovation Organization (OBIO). These funds are intended for the expansion of their robotic platform to improve cancer staging reliability and efficiency.
- July 2023: Tenomix received recognition for its innovative approach to pathology workflows, emphasizing the impact of combining robotics and AI to ease the identification of lymph nodes in colorectal cancer tissues.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2021 |
| Headquarters | London, Canada |
| Founders | Saumik Biswas, Eveline Pasman, Michael Lavdas, Sherif Abdou |
| Revenue | Not disclosed |
| Profits | Not disclosed |
| Key Investors | OBIO, FACIT, Phoenix Fire Fund, Ontario Centre of Innovation's Life Science Innovation Fund |
| Industry | Medical Technology |
| Number of Employees | Not disclosed |
Early History
Tenomix was founded in 2021 when four entrepreneurs identified significant inefficiencies in the pathology process related to cancer staging. This led to the development of the "Lymphonator," a device aimed at automating the labor-intensive and often imprecise manual search for lymph nodes conducted by pathologists. Within the first ten months, the company developed its initial prototype, began testing on animal and human tissues, and secured over $490,000 in non-dilutive funding, setting the foundation for further innovation and development.
Company Profile and Achievements
Tenomix operates primarily in the field of medical devices, focusing on automation and AI-driven solutions to enhance accuracy and efficiency in pathology. Their main product, the "Lymphonator," integrates robotics, ultrasound imaging, and artificial intelligence to systematically identify lymph nodes during cancer tissue examination. Highlights in its development timeline include:
- Creation of a functional prototype within two months of conception.
- Initial human tissue testing commenced by November 2021.
- Ongoing software enhancements to refine image processing algorithms.
- Achieved multiple milestones swiftly, including securing significant funding for scaling operations.
Current Operations and Market Position
Currently, Tenomix is engaged in validating its technology across hospitals in Canada and the U.S. The company is positioning itself as a leader in the pathology tech space, capitalizing on the demand for automation in laboratory processes. The "Lymphonator" is set to address the challenges of traditional cancer staging methods by offering a more reliable and efficient alternative, thus reinforcing its market presence as it seeks to gain regulatory approvals for broader market engagement.
Conclusion
Tenomix's innovative approach in addressing long-standing inefficiencies in pathology workflows underscores its significance in the medical device industry. By leveraging cutting-edge technologies, the company is well-positioned to potentially transform cancer treatment paradigms, particularly with its focus on colorectal cancer staging. Looking ahead, Tenomix aims to expand its technological scope and presence in the healthcare market, driven by its robust foundational accomplishments and recent investment influxes, paving the way for future growth and impact on global healthcare practices.