(Corina, Pixabay. https://pixabay.com/photos/allergy-medical-allergic-allergen-1738191/)
20 Dec. 2022. A new business that provides personalized allergy testing, drug making, and delivery to consumers is raising $16.5 million in its first venture funding round. Nectar Life Sciences Inc. in New York is a one year-old company that calls itself the first vertically-integrated platform for treating people with allergies.
Allergies are a leading cause of chronic illness, with multiple triggers and underlying causes. According to the American College of Allergy, Asthma, and Immunology, some 50 million people in the U.S. suffer from allergies, including 24 million people with asthma. An online survey of self-reported allergies, reported in May 2020 suggests a much higher number. That study, published in the International Journal of Environmental Research and Public Health, notes 42 percent or more than 100 million Americans say they have allergies, with 45 percent of that number reporting respiratory allergies, 41 percent with skin allergies, and 34 percent with food allergies.
Allergy symptoms are as varied as their causes. The immune system reacts to allergens, usually harmless substances, with respiratory symptoms such as coughing or sneezing, as well as watery eyes, or skin irritations. In some cases, severe allergic reactions can occur called anaphylaxis, which can be life threatening. Treatments for allergies usually are medications, including immunotherapies that often require injections, or lifestyle changes to avoid allergens.
An individualized liquid immunotherapy
Nectar Life Sciences seeks to treat allergies as personal disorders rather than adapting generalized therapies. The company’s process begins with a home fingerprint skin test ordered online and mailed to individuals, then mailed back to Nectar. The test, says Nectar, covers up to 38 indoor and outdoor allergens, with results provided online in two to three weeks. After transmitting test results, the company arranges for an online consultation with a physician to discuss the findings and treatment options, and plan a personalized therapy.
Based on those discussions and test results, Nectar develops an individualized liquid immunotherapy sent to the participant. The participant administers two drops of the medication under the tongue each day, rather than injections, which the company says builds resistance to the allergens over time. The company says one bottle of the personalized medication contains a 90 day supply, for which the participant pays $99.00 per month.
Nectar Life Sciences was founded last year by life sciences entrepreneur Kenneth Chahine, now its CEO. In March 2022, the company raised $8 million in seed funds from technology investors Juxtapose and Obvious Ventures. “Today, over 120 million people in the US suffer from allergic diseases,” says Chahine in a Juxtapose statement released through Cision, “yet most consumers feel under-served and constrained with the therapies available to them. We’re proud to tackle this chronic illness head-on with transformative personalized solutions that holistically treat the unique root cause of an individual’s allergies while also focusing on convenience and an exceptional customer experience.”
The company is raising $16.5 million in its first full venture round, led by technology investor Harmony Partners in New York, and joined by Juxtapose and Obvious Ventures. Nectar says it expects to use the funds to scale-up its virtual-care process to operate nationwide, start a lab to produce allergy treatments, and begin clinical studies.
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