What is Strand Diagnostics/Know Error?
Know Error develops a patented system that employs forensic principles and bar coding to ensure surgical biopsy samples are accurately matched to patients and free from contamination. Their solutions are designed for healthcare centers, medical practices, and pathology labs, enhancing patient safety and diagnostic accuracy in the biopsy process. The Know Error DNA test uses a buccal swab-to-biopsy tissue comparison to prevent cancer misdiagnosis and confirm correct patient attribution. By addressing specimen provenance complications, Know Error aims to mitigate the clinical and economic impacts associated with misidentified specimens.
How much funding has Strand Diagnostics/Know Error raised?
Strand Diagnostics/Know Error has raised a total of $30M across 1 funding round:
Series A
$30M
Series A (2012): $30M with participation from NantWorks, LLC
Key Investors in Strand Diagnostics/Know Error
NantWorks, LLC
NantWorks, LLC is a technology development company focused on integrating advanced technologies like machine vision and low-power semiconductors. Their investment in Know Error suggests a strategic interest in leveraging technology to improve healthcare outcomes and diagnostic processes.
What's next for Strand Diagnostics/Know Error?
With a substantial enterprise-level funding history, Know Error is positioned for significant scaling and market penetration. The company's focus on enhancing patient safety and diagnostic accuracy through advanced specimen tracking technology addresses a critical need within healthcare systems. Future strategic investments will likely target further development of their patented forensic and barcoding system, expanding its integration into hospital information systems, and potentially exploring new applications for their technology in other areas of medical diagnostics and patient identification. The company's trajectory suggests a move towards broader adoption and establishing industry standards for biopsy sample integrity.
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