Synex Medical

About Synex Medical

Synex Medical is a health technology company operating out of Toronto and Boston, focused on the development of non-invasive health monitoring to enable predictive and personalized medicine. The company was founded in 2017 by CEO Ben Nashman, who began exploring the underlying technology while still in high school, driven by a passion for physics and science fiction. His early work, which included a makeshift tabletop device built in a small lab at Mount Sinai, demonstrated the feasibility of using low-field magnetic resonance to measure metabolites non-invasively.

The core of Synex Medical's business is a proprietary technology that miniaturizes the principles of magnetic resonance imaging (MRI) into a portable form factor. This technology, known as magnetic resonance spectroscopy (MRS), is designed to accurately measure the concentration of critical blood metabolites—such as glucose, lactate, and ketones—in real-time and without drawing blood. The process involves using a small magnet to align protons within the body, applying low-power radio frequency pulses to excite specific molecules like glucose, and then detecting the unique energy signals emitted by these molecules. This allows for the direct observation of a user's metabolism. The initial product manifestation is a wearable ring that pairs with a smartphone app to deliver continuous biomarker data.

The company's primary market is individuals requiring health monitoring, with a significant focus on the long-sought-after goal of non-invasive glucose monitoring for diabetes management. By providing a painless and data-rich method for users to gain insights into their bodies, Synex aims to empower proactive health management and behavioral change. The business model appears to be centered on the sale of this wearable hardware and potentially a related software or data service subscription. To date, Synex Medical has secured significant financing to advance its technology and expand its team. Following a $5.25 million seed round in October 2020, led by Accomplice with participation from Radical Ventures and angel investor Naval Ravikant, the company raised an additional $21.8 million in a Series A round in September 2024. This funding is directed towards team growth, U.S. expansion, and continued research and development to bring its predictive health monitoring device to market.