BRV Investment Announcement
April 27, 2024
Big Red Ventures Invests in Lo Biosciences, Pioneering Home Blood Collection Technology.
[Ithaca, April 27] – Big Red Ventures, Cornell University’s student-led venture capital fund, announces its strategic investment in Lo Biosciences, a groundbreaking company revolutionizing the lab diagnostic space with its innovative product.
Developed by CEO Sasank Vemulapati, PhD, Lo Bio’s technology seeks to catalyze a paradigm shift in blood testing methods by offering a simple and effective solution for at-home plasma collection. Recognizing the challenges patients and clinicians face with traditional blood collection methods, Dr. Vemulapati envisioned a device that streamlines the process, reducing both administrative burdens and logistical complexities associated with clinic visits.
The device operates by utilizing magnetic beads coated with antibodies that selectively bind to the surface of red blood cells, facilitating the rapid separation of blood plasma from red blood cells. This approach enables individuals to collect blood samples in the comfort of their homes, eliminating the need for frequent clinic visits for routine testing.
BRV Fund Manager Ryan Ries led the Lo Bio screening and due diligence process. Ries received his PhD from Weill Cornell Medical College in 2023, and his investment interests focus on healthcare and biotechnology. Upon pitching Lo Bio to the broader Fund Manager team with follow up questions and deep discussions, the team had a positive majority vote to invest on Tuesday, March 5, 2024.
“BRV Ventures is excited to partner with Lo Bio as they pioneer advancements in home blood collection technology,” said Dr. Ries. “Their technology represents a significant step forward in improving the patient experience and accessibility to vital diagnostic services, especially for those in remote areas.”
The investment from BRV Ventures will fuel Lo Bio’s efforts to further develop and commercialize their technology, expanding its reach to a broader audience and driving innovation in the healthcare industry. The funds raised in the most current round will be used to scale production and roll out the product with additional partners.
“We are grateful for the support and confidence that BRV Ventures has shown in our vision and this is an exciting full circle moment for us as Cornell Alumni,” said Sasank Vemulapati, PhD, CEO of Lo Bio. “With this investment, we are poised to accelerate the adoption of our game-changing portable plasma collection technology and empower individuals to take control of their health through convenient and efficient access to conventional lab blood testing.”
With the backing of BRV Ventures, Lo Bio is positioned to disrupt the status quo in lab diagnostics and usher in a new era of accessible and patient-centric healthcare solutions.
For more information about BRV Ventures and Lo Bio, please visit https://www.lo-bio.com/.
About BRV Ventures:
Big Red Ventures is Cornell University’s student-led evergreen fund investing in early-stage companies across a wide variety of industries. BRV provides strategic support, capital, and links to the University to innovative startups. BRV is also a wonderful educational tool for graduate students interested in venture capital, whereby students get hands-on experience running a fund, sourcing and screening companies, carrying out due diligences, and building their own network in the space.
About Lo Bio:
Lo Bio is a pioneering healthcare company focused on revolutionizing the lab diagnostic space through innovative technology solutions. Led by CEO Sasank Vemulapati, PhD, Lo Bio is committed to developing accessible and patient-centric products that empower individuals to take control of their health. The company’s flagship product offers a simple and effective solution for at-home blood plasma collection, streamlining the diagnostic testing process for both patients and clinicians.