Company turning smartphones into low-cost labs raises $1M

Biomeme, a Philadelphia company that has developed technology to turn smartphones into low-cost diagnostic labs, raised almost $1 million in a debt financing.

Documents filed with the Securities & Exchange Commission show the company is seeking to raise a total of $1.9 million through the offering.

Biomeme was among the 10 companies that last year participated in the DreamIt Health accelerator program in Philadelphia. The program for health-care startups was created through a partnership involving DreamIt Ventures, Independence Blue Cross and the University of Pennsylvania Health System.

The goal of the program is to assist new businesses seeking to apply technology to keep people healthy and provide more effective and affordable interventions at the point of care.

Biomeme, is developing what it described as low-cost, mobile molecular diagnostics devices to help point-of-care clinicians and epidemiologists quickly diagnose and track infectious diseases in real-time with smartphones.

The company’s co-founders were unavailable Thursday to comment on the debt financing.

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