Newswise — ROCKVILLE, Md., Dec. 11, 2019 /PRNewswire/ -- Hememics Biotechnologies Inc., ("Hememics" or the "Company") announced that AMVI Partners, a consortium of high net worth Vietnamese investors, has invested $2.5 million into Hememics. The company will use the funds to initiate clinical research for supporting a U.S. Food and Drug Administration (FDA) submission of a novel point-of-care technology for detection of pathogens in under a minute.
The Company has developed a handheld device and a multiplex panel chip that can be used anywhere for ultra-rapid detection of bacteria or proteins. The technology is being developed initially to address the growing need for rapid diagnostics in the detection of sexually transmitted infections (STI), a global market that is forecast to reach $140 billion by 2025.
AMVI Partners, an investment firm with offices in McLean, VA, was introduced to the Company by the Vietnamese American Business Council (www.VABC.US), a non-profit organization also based in McLean, VA, with a mission to create business opportunities between the U.S. and Vietnam.
"We are thrilled to engage in this productive partnership with Vietnamese investors through AMVI Partners," said John Warden, CEO and co-founder of Hememics. "Given the worldwide growth rates for STI such as chlamydia, gonorrhea and HPV, we are especially honored to have interest from the international investment community in our technology."
David Ho, PhD, CSO and co-founder of the Company added, "Our long-term relationship with VABC has made this progress possible. This significant investment will enable us to achieve key milestones on our path to commercial availability."
About Hememics Biotechnologies, Inc.
Hememics is a venture-backed biotechnology company that has developed a cellphone-sized POC device to pathogens in less than one minute. Due to a patented process for stabilizing antibodies on their proprietary chip, this technology does not require refrigeration. Coupled with its simplicity of operation, the device can be used anywhere – in the field or at bedside – to provide answers in seconds at the point of triage. The initial device in development is a point-of-care panel for STI. Inova Strategic Investments, the venture capital fund for the Inova Health System, is another significant investor in Hememics. For additional information about the Company, please visit www.hememics.com.
About AMVI Partners
AMVI is an investment firm organized by a consortium of high net worth Vietnamese investors looking to expand their investment portfolio into the high-technology arena. The initial series of investments will focus on U.S. companies with breakthrough technologies that will contribute to humanity causes. https://amvipartners.