NEWSROOM

Guts and glory – the rise of gastric biotech start-up Alimetry

20 April 2021

Alimetry, a digital healthcare and diagnostic devices start-up is grounded in world-leading science in gastrointestinal diseases. In the short two years since its inception it has established itself as a pioneer in health solutions, recently being named a finalist in the NZ Hi-tech Awards. 

Alimetry has achieved CE Mark for its first product Gastric Alimetry, a pioneering wearable device for enabling diagnosis of gastric diseases. CE marking – certification that allows a product to be sold in the EU – is an important milestone for the trajectory of the company, allowing global expansion.

Gastric symptoms are extremely prevalent, affecting around 10% of the global population, and can be painful and debilitating. The team behind Gastric Alimetry aim to transform the diagnostic pathway for millions of patients worldwide suffering from diseases such as functional dyspepsia, gastroparesis and chronic nausea and vomiting. The Gastric Alimetry device collects data by non-invasively sensing the activity of the stomach from the body surface. Data is sent to the cloud for analysis, and is used by clinicians to determine the causes of gastric symptoms and direct treatment.

Co-founder and CEO Professor Greg O’Grady said “As clinicians, we lack the tools we need to reliably diagnose gastric disorders. This contributes greatly to the frustration and suffering of our patients. I was driven to this cause by seeing too many patients go through laborious, invasive and expensive rounds of repeat diagnostic testing, only to end up with inconclusive results and confusion. We invented Gastric Alimetry to help address this need. I am immensely proud of our hard-working team who have delivered an incredibly creative solution with outstanding potential to impact patient care.”

Alimetry has been the culmination of over a decade of award-winning scientific research out of the University of Auckland. Research has been supported by the start-up experience of its founding team, who are serial entrepreneurs. Both CEO Greg O’Grady and Chief Scientific Officer Peng Du gained experience in innovation and entrepreneurship through participating in Velocity, the entrepreneurship development programme administered by the Business School’s Centre for Innovation and Entrepreneurship. Greg says “I cut my teeth in the Velocity programme, and still highly recommend it to anyone.  You learn best by doing.  The structured programme and mentorship that comes with it are both fun and rewarding.  I have also benefited from excellent mentorship and advice from UniServices and within the CIE, and I continue those relationships today.”

The team at Alimetry cite the wrap-around support they have received from the entrepreneurial ecosystem as pivotal to their success. They have been backed by scientific grants from the New Zealand Health Research Council and the US National Institutes of Health, followed by Callaghan Innovation funding. To support the next phase of growth, the company completed its first institutional investment round, led by IP Group, a leading international intellectual property commercialisation company. The investment round was supported by UniServices Ltd (via the University of Auckland’s Inventors’ Fund), and Matū, a New Zealand early-stage science and deep-tech venture capital fund. The capital raised by Alimetry will be used to advance the company’s clinical trials, enter the market, and progress regulatory approval in the United States.

The Managing Director of IP Group Australia, Dr Michael Molinari, said “We are excited to be working with Professor O’Grady and the world-class team at Alimetry to provide a step change in the quality of life for millions of patients with gastric disorders. This technology, at the intersection of multiple exponentially growing fields such as wearable medical devices, digital health, and machine-learning assisted diagnostics, is another great example of the breakthrough innovations coming from our partners at the University of Auckland.”