Olaris is pleased to announce a strategic investment from Labcorp, a global leader of innovative and comprehensive laboratory services, as part of Olaris' series B-1 funding. Labcorp's investment and strategic collaboration will help accelerate the expansion of myOLARIS™ diagnostic products which use NMR detection of metabolites to transform how diseases are diagnosed and treated.
FRAMINGHAM, Mass., April 8, 2025 /PRNewswire-PRWeb/ -- Olaris, Inc., a precision medicine company leveraging metabolomics and machine learning for the discovery and development of its myOLARIS™ diagnostics products, announced an investment from Labcorp, a global leader of innovative and comprehensive laboratory services, as part of Olaris' Series-B1 financing. Labcorp joins existing investors Robert Carpenter, Innospark Ventures, North Point Partner, Alumni Ventures, and new investor US Boston Growth Capital.
The strategic investment from Labcorp follows Olaris being granted a unique proprietary laboratory analysis (PLA) code by the American Medical Association for their myOLARIS™-KTdx. This test is a urine-based NMR test to provide immune status surveillance for kidney transplant recipients. This first-of-its-kind test will allow healthcare providers the ability to more accurately manage their post-transplant patients. Labcorp's investment and strategic collaboration will help Olaris to accelerate the expansion of myOLARIS™-KTdx and the pipeline of myOLARIS™ diagnostic and disease monitoring products.
"Labcorp's investment and partnership will help us to bring our innovative technology to the patients who need it faster, while significantly expanding our reach. Together, we will be able to accelerate access to cutting-edge solutions that have the potential to transform patient care." said Elizabeth O'Day, CEO of Olaris.
"Labcorp is excited to support Olaris to unlock the potential of metabolomics in clinical biomarker discovery and development of non-invasive diagnostic products," said Megann Vaughn Watters, Head of Labcorp Venture Fund. "myOLARIS diagnostics could provide broader, differentiated services to physicians and patients that will enhance clinical decision making."
About Olaris
Olaris, Inc., is working to fundamentally change how diseases are treated and diagnosed. By leveraging our myOLARIS™ toolbox which combines metabolomics, machine learning and biology we uncover clinically impactful biomarkers. To learn more visit https://myolaris.com.
Media Contact
Ruthy Salde, Olaris, Inc, 1 6179814784, [email protected], www.myolaris.com
SOURCE Olaris, Inc
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