Alverix, Inc.
Headquartered in San Jose, CA, with manufacturing facilities in Malaysia, Alverix produces novel, handheld and pocket-sized medical diagnostic instruments that enable central laboratory-quality results to be achieved in physician offices, laboratory outreach locations, retail clinics and homes where immediate access to test results is critical to improving patient outcomes. In addition, Alverix’s point-of-care connectivity platforms provide for timely delivery of content rich diagnostic information that facilitates more efficient and effective healthcare decision making. www.alverix.com
Why Alverix? — Alverix is based on patented optical sensing technology and proprietary imaging enhancement algorithms developed at Hewlett-Packard and refined at Agilent and Avago Technologies. Using off-the-shelf parts, the company has created a low-cost, next-generation meter platform that overcomes several limitations of current bench-top instrumentation. By partnering with assay companies, Alverix can extend diagnostic testing beyond high volume labs into lower volume sites.
Market Opportunity — In 2006, the point-of-care professional segment of the in vitro diagnostic (IVD) industry was valued at $4.7B, growing at 11% annually. Annual spending on instrumentation is estimated at more than $900M, although the high upfront capital cost of meters (typically $3-5K) has limited market growth. Alverix forms multi-year partnerships with diagnostics firms and intends to commercialize its own assays.
Safeguard Board Member — Gary J. Kurtzman, MD
Financial Summary — Safeguard has deployed $7.7 million of capital in Alverix and has a 50% primary ownership position. Co-investor includes New Venture Partners.
Initial Capital Deployment — October 2007
Sector — Life Sciences, Molecular and Point-of-Care Diagnostics
