June 24, 2024 1:08 PM EDT | Source: Ascend Agency
New Haven, Connecticut–(Newsfile Corp. – June 24, 2024) – KovaDx, a startup company focused on the research and development of sickle cell monitoring technology, has announced it is closing due to difficulties in raising capital.Founded by Dr. Yau Angsun Angsunthong and co-founded by Timothy Adamson and Dasung Kim, the company aimed to provide an affordable and accessible sickle cell monitoring solution to underserved communities.
Credit: KovaDx
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Sickle cell disease is an inherited blood disorder that causes red blood cells to become sickle- or crescent-shaped instead of round and flexible. This abnormal shape causes the cells to get stuck in small blood vessels, restricting blood flow and preventing oxygen delivery to tissues. The disease is common in parts of Africa, the Middle East, and the Mediterranean basin. In the United States, it primarily affects minority groups with ancestry from these regions. Despite the need for research and treatment, sickle cell disease is often underfunded or ignored because it primarily affects minority and low-income communities.
Dr. Anson Angsonton, who carries the sickle cell gene himself, witnessed the devastating effects of the disease while working as a physician in Africa. His experience led him to found KovaDx to bring sickle cell testing and treatment to the forefront. However, the startup struggled to secure funding, despite initially promising to support Black startups in the wake of George Floyd’s death.
“The funding climate has become tough for small startups, leaving little room for startups targeting rare diseases,” Anson Angthong explained. “This situation, combined with internal and other external factors, has led the team to make the decision to close.”
Despite the challenges, KovaDx raised venture capital funding and won an NSF Phase I grant, which provided approximately $260,000 for a 6- to 12-month proof-of-concept study. The company developed a proof-of-concept red blood cell health indicator that combines quantitative phase imaging and machine learning.
Media Details:
Company Name: KovaDx Inc
Company Media Contact: KovaDx Team
EmailEmail: kova@kovadx.com
Company website: http://www.kovadx.com/
sauce: Koba Dx
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