From: Entrevestor
Date: Sept. 20, 2024
The maker of a test for muscle health is initially working with 20 N.S.-based healthcare providers.
Three months after it won Health Canada approval for its urine test to monitor muscle health, Halifax-based Myomar Molecular is going to market in Nova Scotia, with a national launch and capital raise to follow.
In an interview Thursday, CEO Rafaela Andrade said the company has so far signed on with 20 distribution partners in Nova Scotia. The raise will go towards funding the national expansion and follows a smaller, $1.1 million deal from earlier this year.
Myomar is also in the process of releasing its web app, which has portals for distribution partners and patients.
“We are already getting a lot of traction from other provinces to buy our test, so we need to raise the round to be able to complete the expansion plan,” said Andrade.
In Nova Scotia, the test will be available beginning October 7. Later, the national launch will include a version of the web software revised to include feedback from the Nova Scotia physiotherapy clinics, dieticians, naturopaths and other specialist treatment centres.
“After we go to market with those 20 clinics, then we want to improve our MVP and get feedback from them about what they would like to see better in the software,” Andrade said.