Local Startup Raises $3 Million in Seed Capital from ‘Family and Friends’

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NexEos CEO Theresa Mansi.

NexEos Diagnostics, a Wayne-based medical diagnostics company focused on disorders related to white blood cells, has managed to raise $3 million in equity financing, writes John George for the Philadelphia Business Journal.

Founded earlier this year, NexEos is currently developing technology licensed from the University of Utah that is intended to help individuals living with chronic, eosinophil-related inflammatory diseases. Eosinophils play a key role in the body’s response to allergic reactions, asthma, and infection.

The company is working on a rapid-imaging, non-invasive agent that could be used in the diagnosis, treatment, monitoring, and management of eosinophilic esophagitis. The disease affects approximately one in 2,000 people of all ages.

“Right now, the only way you can diagnose eosinophilic esophagitis is with an endoscopy and take a biopsy,” said Theresa Mansi, NexEos CEO. “Nobody likes that. Patients don’t like it. There are risks with that.”

She said that the condition is “patchy” and can sometimes be missed in biopsies, creating a false negative.

According to Mansi, the seed capital raised primarily from “friends and family” will be used to advance the imaging agent through the regulatory review process.

Read more about NexEos Diagnostics in the Philadelphia Business Journal here.

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