© 2020 Loop Medical - Loop Medical, based at EPFL's Innovation Park, has just closed a $6.4 million financing round to support the US market entry of its needle-free blood-sampling device. Loop Medical's innovative technology offers a needle-free, painless and easy-to-use method for collecting blood samples. The startup closed a $6.4 million Series A financing round led by Sarstedt Group and Casdin Capital in mid-October, reflecting the high potential investors see in its approach. The proceeds will be used to obtain clearance from the US Food and Drug Administration (FDA) and ramp up manufacturing of the new system. Loop Medical has raised over $10 million in investment and grants, including $3.6 million from the Bill & Melinda Gates Foundation, since it was founded in 2016. The firm entered into a partnership agreement with Cerba Health C are, a global leader in medical biology, in 2018. Reinventing blood collection Loop Medical's device allows blood samples to be taken in a minimally invasive, painless way.
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