Visby Medical is an American diagnostics company that develops tests to detect infectious diseases based on PCR technology. The organization develops a device platform that helps to redefine the methods for testing and treating illness through a human-centric approach, based on technologies that create highly accurate and easy-to-use tools. If you're not yet familiar with Visby Medial, here are twenty facts about the enterprise that you probably didn't know to bring you up to speed.
1. Visby Medical has been around for a while
Crunchbase confirms that Visby Medical has been in business for a decade. The company launched its operations after its official founding in 2012. In 2022, it celebrates its tenth year in business. The headquarters is in San Jose, California. It is listed under the Medical, Health Care, and Health Diagnostics industries.
2. The Visby Medical website uses minimal technologies
Compared to most other websites for large companies, Visby Medical uses just five technologies to power its site. We were interested in visiting the website to check its ease of navigation and discovered that the small number of technologies provides a smooth and seamless experience for website visitors. The five technologies are distributed across seventeen technology products and services. Some of them include Amazon, GStatic Google Static Content, Google Apps for Business, Google Analytics, jQuery, HTML5, and several others.
3. Visby Medical stands out from its competitors
Visby Medical is a unique company with products that are different than most others in the medical and health care diagnostics industries. The company has secured twenty-four registered patents in the physical or chemical processes or apparatus in general categories. In addition, Visby Medical secured three registered trademarks in the medical apparatus and instruments category. These are the intellectual properties that are protected by patent law, and the rules that govern patents and trademarks prohibit any other companies from imitating, copying, or using the intellectual properties without the express written permission of the registered holders. These patents and trademarks make Visby Medical stand out as unique among its competition.
4. Visby Medical's website traffic is down
Analytical reports for the Visby Medical website show that the number of monthly visits is down over the past thirty days. The total number of visits is 9,518, reflecting a decrease of 52.5 percent. The Visby Medical website is ranked number 2,0080,878 of the millions of websites registered on the world wide web. The analytics also show that all of the visits for the past thirty days are from people who live in the United States.
5. The core leadership team at Visby Medical has nine members
There are nine members in the core executive leadership team at Visby Medical. Adam de la Zerda is the founder. Garys Schoolnik is the chief medical officer. Christopher Jowett is the chief commercial officer. Mark Ibison is the chief financial officer. John Kuo is the chief legal officer. Alicia Zuiker is the chief people officer. Ling Wong is an investor, and Mark Medlin is a senior vice president of manufacturing and operations.
6. Visby Medical has a seven-member board of directors
The board of directors for Visby Medical has seven members. Ajit Singh is a partner at Artiman Ventures. He currently serves on eight boards of directors in advisory roles. Terri Bresenham is the chief innovation officer and GE healthcare. She currently serves on one board of directors in an advisory role. Ryan Panchadsaram is an advisor to the chairman at Kleiner Perking. He has founded one organization and currently serves on two boards of directors in advisory roles. Ittai Harel is the managing general partner at Pitango Venture Capital. He currently serves on seven boards of directors in advisory roles. Amit Shah is a founder and partner at Artiman Ventures. He has founded three organizations and he currently serves on fifteen boards of directors in advisory roles. Eric Moessinger is a partner at NanoDimension. He currently serves on seven boards of directors in advisory roles. Shlomo Melmed is the senior vice president of academic affairs and dean of the medical faculty at Cedars Sinai. he currently serves on one board of directors in an advisory role.
7. Visby Medical is a venture capital-funded enterprise
Visby Medical has participated in nine rounds of venture capital fundraising. The most recent round of Series E funding was completed on June 29, 2022. It qualifies under the classification of a late-stage venture capital company. The total amount raised for Visby Medical is $383.7 million.
8. Visby Medical has high investor confidence
Visby Medical attracted the attention and interest of eighteen investors that support the company with financial support backing. The most recent funders to join the efforts are Light rock and John Doerr. Other investors are Pitango Venture Capital, J-Ventures, Cedars Sinai, Artiman Ventures, Blue Water Life Science Advisors, NDCapital, Biomedical Advanced Research and Development Authority, a lead investor, and several others.
9. Visby Medical is a privately held enterprise
The founder of Visby Medical has retained a controlling interest in the company under private ownership. Aside from the contractual agreements for its private investors, he owns the business privately. You will not find shares of Visby Medical stocks for sale or trade on the public stock exchanges because the company has not yet filed for an IPO. There is no need to add the fundraising effort because it gets all the financial backing necessary from its eighteen private investors.
10. Visby Medical's most recent fundraising brought in $100 million
Techcrunch confirms that the latest round of Series E funding was extended. The round brought in $100 million to its growing investments, which shows that investors have confidence that they'll see a decent return on funds invested in the company. The extension of the round generated an additional $35 million in the coffers.
11. Visby Medical is expanding its capacity
We learned that Visby Medical has plans for its most recent influx of funding. The company plans to scale the capacity of its production from tens to hundreds of thousands of products in monthly tests. It's expanding its line of products to add new tests to its inventory, including at-home PCR diagnostics, antimicrobial resistance panels, and COVID and influenza A and B combination testing.
12. Visby Medical is a unicorn company
Visby Medical has achieved membership in the exclusive unicorn club. It's reserved for companies that reach a valuation of 41 billion or more. The latest round of fundraising put it over the $1 billion mark. the high valuation is an attractive element that investors consider when deciding whether or not to invest in companies like Visby Medical. The company is solid in its new status as a unicorn and it is now a member of the elite group of companies in the billion-dollar status.
13. Investors are in it for the long-term
The good news for Visby Medical is that most of its investors are not passive in their interest in the company. Some have declared that they're in it for the long-term and plan to continue their financial support of the company. What it means for Visby Medical is that investors are not concerned with the short-term fluctuations that occur in public markets or within the industries impacting Visby. Attracting investors with long-term tendencies for investment was a part of Visby's strategic plan for gaining financial stability and security.
14. Visby Medical is a disruptor
One of Visby Medical's goals is to develop diagnostic tools to revolutionize the current patient care system. Providers may test for infections at any time and any place. Patients may also use some tests outside the medical facilities and take the tests at home. It's disrupting the industry with a new way of testing for infections that provides a convenient way for physicians and individuals to find out if the patients are positive for an infection. It shows them what type of virus is present.
15. Visby Medical is gearing up to create a first
The current research and development at Visby Medical are on a project to create an instrument-free handheld PCR platform. It will be the first of its kind in the world. It could change the course of the COVID-19 pandemic with a convenient and fast way to diagnose any sign of the infection early and accurately. The disease spreads rapidly among groups who do not realize that they have an infection and are likely to pass it to others. The new platform will provide accurate diagnoses for several types of serious infections. It will be available to anyone who needs testing, on the spot, wherever they are. The implications are tremendous for filling in the gaps where testing is hard to get or in areas where populations are isolated from highly populated communities. Visby Medical's research and development teams are working on multiple projects to achieve the company's mission.
16. Visby Medical is small but growing
LinkedIn confirms that Visby Medical's workforce has just 258 employees. The company is currently in an expansion mode. There are eleven new job openings available. Most open jobs are either for remote workers or a hybrid situation involving remote work and responsibilities at the headquarters. Most jobs are in the San Jose area, but we also saw job postings for workers in Indianapolis, Indiana, and Jersey City, New Jersey. It shows that Visby Medical is expanding its reach and operations in the United States.
17. Visby Medical offers a newsletter
Anyone interested in keeping up on the current news and happenings at Visby Medical can subscribe to its monthly newsletter. It's called the Visby Voice and it's available as a LinkedIn edition. The monthly publication is new and it appears on the latest postings on its LinkedIn site. So far, the publication has three subscribers through its LinkedIn version. It's a sign that Visby Medical is making progress in achieving transparency in showing the public how the operation is progressing, and discussing the milestones it's achieving through its research and development department, as well as for financial status and other relevant information.
18. Visby Medical posts educational videos
Visby Medical is doing its part to help educate the public on various aspects of health and wellness. One of the most recent video posts features Gary Schoolnik, MD. he is the chief medical officer at Visby Medical. He explains the advantages of the Visby Medial Sexual Health Click Test. It's one of the many products that help individuals stay on top of potential health concerns to achieve fast and easy diagnoses from the convenience of their homes. It can help thousands to seek treatment when needed, while health conditions are still in the early stages of development when they're easier to treat in many cases.
19. The FDA gave Visby Medical emergency approval for its PCR tests for Covid-19
Fierce Biotech reported in 2021, that the United States Food and Drug Administration reviewed Visby Medical's application for emergency authorization for its single-use, rapid PCR test for the detection of Covid-19 infections. The FDA considered the test essential in supporting the health and wellness of the population and approved the test in an expedited approval format. It was among the first portable diagnostics for Covid-19 detections to receive the FDA's green light. The test was approved in September of 2021. It moved Visby Medical to the front lines in the fight against Covid-19.
20. Visby Medical has received government support and backing
Visby Medical formed a partnership with the BARDA, aka Biomedical Advanced Research and Development Agency. it is a US government entity that worked with Visby to develop the coronavirus and A and B influenza tests. Visby Medical has received an award for $12.3 million which could expand to $48.7 million within three years from the government. The National Institutes of Health also granted Visby an award of $10 million through its diagnostic accelerator program.
Written by Allen Lee
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