# SimpleTest by iAssay

Improving medical testing by putting the lab in the palm of your hand

## Elevator pitch
SimpleTest is a portable medical test reader, with a universal adapter, that allows tests to be read anywhere, eliminates human error, and produces results in minutes.

- Canonical URL: https://wefunder.com/iassay
- Entity ID: wefunder:company:72127
- Last updated: 2026-06-27T05:03:59Z
- Generated at: 2026-06-27T11:37:08Z

## Quick facts
- This is the 1st and only patented universal medical test reader
- We're tapping into the $68 Billion Healthcare Data industry with a cloud computing solution
- Our device eliminates manual errors which means better, faster, smarter healthcare for all
- This device will improve the quality of Covid-19 testing
- Experienced advisory board, including founder of Genoptix, Nanogen, MBI - all successfully exited
- USPTO has already granted 2 patents for SimpleTest, with more patents pending
- We have secured first revenues

## Active fundraises
- wefunder:fundraise:38668: 4(a)(6) successful (USD)

## Story
⚕️For too long huge healthcare technology companies have created closed systems that prioritize profits over patient care. Fortunately, technology innovation, spurred by the Covid-19 pandemic has helped achieve a breakthrough that will upend this $82 Billion industry. iAssay has developed a patented Point of Care (POC) testing device, SimpleTest, that completely changes the game.🧪We’ve taken the lab, fixed it, and put it in your pocket. 👩‍⚕️ What is Point of Care? Something hurts, maybe you ignore it at first, but after a couple of days it hurts enough that you finally decide to go to the doctor who orders a couple of basic tests. Now you’ve got to make an appointment, go to a lab, get the tests done and wait for the results. Finally you have a follow up with the doctor. If you’re lucky the whole thing took a week, and that was before Covid. But, it doesn’t have to be that way; POC test readers enable many of the most common laboratory tests to be done anywhere, with results in minutes. Even better, POC readers automate manual processes, which means less human errors, less false positives and better patient outcomes. Meet what we believe to be the first and only universal POC testing deviceThe hallmark of a closed system is when everything is proprietary. Their test strips work on their device and their device only. Lonnie Adelman, iAssay's CEO had a better idea. He imagined a universal reader that allows hundreds of different tests from dozens of manufacturers all to be read on a single cloud-connected device. SimpleTest can analyze a wide array of tests including drugs of abuse, cardiology, hematology, OB/GYN, infectious diseases, oncology, and Covid-19.💡 An idea is bornLonnie Adelman is an engineer both by training and force of habit. An HP veteran, it was about 7 years ago that Lonnie first learned about point of care testing. He was dismayed that you couldn’t perform the range of tests a patient needed with a single device, because each reader was limited to the set of tests belonging to a particular manufacturer. 🌳 After a year of tinkering Lonnie noticed that a commonality in the tests would allow for cross-platform reading. Then came a breakthrough. Smartphone technology had advanced to the point where it could be implemented into the reader! What was needed was an adapter, a modular system that would allow for interoperability. The addition of data syncing with multiple data cloud platforms was the final piece of the puzzle. The seeds of SimpleTest, a revolutionary, holistic solution, had taken root. 💰 The OpportunityThe POC testing industry has experienced explosive growth in the past year, which is only projected to increase for the foreseeable future. Added to this, SimpleTest’s HIPAA compliant ability to sync with multiple cloud computing platforms enables anonymized data for research and big data mining, itself projected to be a staggering $68 Billion industry by 2025. SimpleTest has a range of application settings from Medical clinics, nursing homes, long term care facilities to workplace drug and covid testing, to individuals. Healthcare data providers such as Advera, Optum and Apixio would be an independent revenue stream.🏆Competitor Landscape🏁 Go To MarketSimpleTest is ready to go to market today. Current partnerships with GattaCo, Vanderbilt Medical, and David Geffen School of Medicine have validated our business model. On the horizon are potential partnerships with worldwide, national and regional labs. We’re ready to tear down the barriers that have hindered healthcare for too long. Now is the time to democratize medical testing, and transform data into treatment. Join us in unleashing the future of medical care.

## FAQ
1. **What type of cartridges have you planned for? How will you make sure their efficacy is monetizable?**
   - Thanks for your question. We have planned for cartridges in the cardiology, hematology, OB/GYN, infectious disease, Drugs of Abuse, and oncology space. iAssay onboards by adapting cartridges cleared through regulatory, manufactured, and marketed by companies and distributors who are already in market, and already selling, so market size and profitability for those cartridges is already known. Since the COVID-19 Pandemic has started, we are very focused on COVID-19 antibody and antigen tests.
2. **I am a physician. What specific tests are available? Are these HIPPA WAIVED?**
   - Thanks for this question. To clarify, I think you mean CLIA Waived. For the benefit of anyone else reading, CLIA waived tests are tests that anybody is authorized to run. For example a drugstore pregnancy test is CLIA waived. Urine drugs of abuse tests for our intended markets do not require FDA Clearance, so anybody can run those tests. Currently COVID-19 tests are not CLIA waived. The SimpleTest system is 100% HIPAA compliant. The SimpleTest unit never has patients’ personal information on ...
3. **Show the product, where are you at with development, production, etc.**
   - The CyberReader Model 2030 works well for test strips, is connected to our SimpleCloud to store test results and allow review. It is ready to support Drugs of Abuse and COVID-19. We have already manufactured units, and we are ready to ramp up with orders. Much of the the SimpleTest 2 engineering is complete, and we are counting on the fundraise here on WeFunder to complete the design, testing, and product launch.
4. **What Tests does it test for !!!**
   - Appreciate the question. We have planned for cartridges in the cardiology, hematology, OB/GYN, infectious disease, Drugs of Abuse, and oncology space. Since the COVID-19 Pandemic has started, we are very focused on COVID-19 antibody and antigen tests.
5. **Hi. I have a few questions: -How much will the reader and strips cost? -What are your revenue goals for the next 5 years? -Can it do blood and urine tests like a regular physical exam? That would eliminate the need for doctor visits for that purpose... -Will the tests be able ...**
   - -How much will the reader and strips cost? There is no charge for the SimpleTest reader itself. We place the unit with a customer, and then we charge $1 per test performed. We do not produce the strip tests ourselves, our universal reader is able to read a wide array of 3rd party strips. The cost of those strips vary from $1 to over $20. -What are your revenue goals for the next 5 years? Knowing what revenues will be in 5 years is nearly impossible to predict—the range would be so big as to b...

## Team
- Lonnie Adelman (CEO)
- George Foo (Director of Operations & Supply Chain)
- Edward Strong (Scientific Director)
- Tom Hayhurst (Director of Business Development)

## Q&A
- Q: What Tests does it test for !!!
  - A: Appreciate the question. We have planned for cartridges in the cardiology, hematology, OB/GYN, infectious disease, Drugs of Abuse, and oncology space. Since the COVID-19 Pandemic has started, we are very focused on COVID-19 antibody and antigen tests.
- Q: It has been a bit of time since we've had an update on the progress of iAssay. Can we get an update where the development and marketing currently stands?
- Q: Does the device actually exist? You replied to another question "Much of the SimpleTest 2 engineering is complete, and we are counting on the fundraise here on WeFunder to complete the design, testing, and product launch." But you also have in your main description "SimpleTest is ready to go to market today." How much time and money will it take to have a completely working device and deliver it to end users? Just to clarify, your device doesn't PERFORM tests, it READS tests, is that correct? Are these test cartridges a standard size? How many different cartridges have you read with your device? Do you manufacture them or are you accepting cartridges made by many other companies? You say your goal is to allow "allows hundreds of different tests from dozens of manufacturers all to be read on a single cloud-connected device." If there is a proprietary test that you want to read on your device, won't you have to pay a licensing fee to the other manufacturers? What exactly is the patent and who owns it? Thanks.
  - A: Q. Does the device actually exist? You replied to another question "Much of the SimpleTest 2 engineering is complete, and we are counting on the fundraise here on WeFunder to complete the design, testing, and product launch." But you also have in your main description "SimpleTest is ready to go to market today." A. Thanks for these important questions! First, absolutely yes that our first generation SimpleTest™ exists. It has been used at Vanderbilt University, GattaCo, and Accura Labs As mentioned, we are in the process of developing the 2nd generation or what we are calling SimpleTest 2™ with improved features including: dual independent testing bays allowing same or different tests to be processed simultaneously, 7” Touch Screen, Enhanced User Interface and device functionality. Q. How much time and money will it take to have a completely working device and deliver it to end users? A. With a budget of $500,000, first production units are expected Q3 2021. Q. Just to clarify, your device doesn't PERFORM tests, it READS tests, is that correct? A. Correct, SimpleTest™is a medical test reader which takes existing medical tests, such as Covid19 tests, reads and analyzes them with high accuracy and precision, then reports the data securely to medical clouds in real time. Q. Are these test cartridges a standard size? How many different cartridges have you read with your device? Do you manufacture them or are you accepting cartridges made by many other companies? A. SimpleTest™'s patented modular design allows it to be the first and only universal medical test reader. There are hundreds of Medical Test cartridges, some happen to be the same size, but there is no standard size. A SimpleTest 2™ improvement is that it accepts a universal lateral flow adaptor that has a patent-pending slider mechanism to fit cartridges of different sizes With SimpleTest™ all it takes is 1 device. We do not currently manufacture any tests. Q. You say your goal is to allow "allows hundreds of different tests from dozens of manufacturers all to be read on a single cloud-connected device." If there is a proprietary test that you want to read on your device, won't you have to pay a licensing fee to the other manufacturers? A. Great question, what is proprietary about a given test is its ability to check (assay) for the presence or absence of certain biological indicators. What is not proprietary about these tests is reading them. In fact, right now humans visually read millions of those proprietary tests, without paying a licensing fee, and then manually input the results. That's where SimpleTest™ comes in. We remove the possibility of human error from that process. No licensing fee required :) Q. What exactly is the patent and who owns it? A. The USPTO has granted two Patents to date: US 10,309,954 and US 10,753,921 and both are owned by iAssay, Inc. Pending patents will also be assigned to iAssay at the time of granting. Additional information on the granted patents is available at USPTO.GOV. We are glad to meet with you one on one for any further clarification.
- Q: Compare yourself to Theranos and explain how you are different.
  - A: Hi Cody, I agree with what Lonnie said and wanted to add a little. Happy to follow-up with you 1-1 if you like, Theranos is obviously a very long conversion. I think it's important to recognize just how many MAJOR hurdles Theranos was claiming to solve - without ever providing evidence they could jump over a single one. They were claiming to solve [seemingly] the entire ecosystem of Liquid Biopsy assay development + Microfluidics + Engineering + Imaging + etc all inside one box. Each piece of that enormous pie they claimed to have cooked, is in itself so complex dozens and hundreds of other companies/PhDs/engineers are trying to solve just a slice. In hindsight, it was plainly obvious no single house could invent all those solutions. iAssay focuses on the engineering. We've designed and solved to be a single instrument that adds connectivity, speed, and objectivity into existing and new Dx assays which are developed by others, accepted in the market place, and have regulatory clearances. Plus the benefit that the iAssay instrument can be used openly across diagnostic assay devices made by multiple manufactures (this type of flexibility in choice is a radical idea in healthcare). And as Lonnie rightly notes: Our box exists, it can be held, seen, demonstrated and validated at a real lab bench rather than some glossy presentation at a theater.
  - A: That is a great question. 1. Our SimpleTest works, and has been validated by institutions. Not the case for Theranos. Unlike Theranos which made claims related to the science of testing, SimpleTest has innovated by allowing all forms of existing tests to be read and digitized on a single device. 2. iAssay scrupulously follows laws and regulations. 3. Each member of the iAssay team is chosen because of their integrity, honesty, and experience in their field. All "team players." The team listens when a team member has a concern.
- Q: Oh, one more... A big plus to your product is eliminating human error. Does your solution integrate with current medical record platforms, such as Epic, either directly or via some sort of import function, to eliminate data entry errors?
  - A: Great! The device integrates through middleware Clouds that automatically drive test results to the medical record platform of choice, including Epic. When our unit analyzes the test cartridge in seconds, that analysis is immediately and automatically followed by pushing the test results to iAssay's AWS-based SimpleCloud portal. The middleware Clouds communicate securely with the SimpleCloud portal to move the test results to the patients' electronic health record.
- Q: Hello, This is a great idea, and I can see it saving on medical costs and turnaround times for obtaining result data. I have a couple of questions... 1) Will the unit need calibration/diagnostics run over time? If so, can this be done by the end-user, or does it need to be performed by an authorized technician? 2) Are the modules on-time use? I know you mentioned strips, but does that mean the actual modules are multi-use, or will some be required to be replaced after each use? 3) Will any portion of the waste need to be handled as biohazard material? I know people just toss their diabetic test strips in the trash, and we simply flush urine, but in medical facilities, many tests and devices have to go in specialized receptacles and so on. 4) I love the potential for anonymized data contributing to medical knowledge and breakthroughs, but will the end-users have an option to opt-out if they so choose? 5) Security is a big concern, especially when it comes to private data and medical devices (think pacemakers, etc.). What steps are being taken to ensure that your devices are secure and unlikely to be hacked? Thank you for your time, Scott
  - A: Thanks for the questions Scott. They are good ones, and will be informative to others. 1) Our products are made to be used by healthcare providers, so they are the end users. Daily verification for high and low readings must be done. Every time a new lot of test cartridges/strips is opened a lot test will be done. The tests will be performed semi-automatically by the operator running the test. 2) Most of the cartridges and strips are one time use 3) All of the waste needs to be handled as biohazardous, and facilities performing the tests will have a standard operating procedure for disposal. If a nurse tests a patient at home, the nurse will handle used cartridges just like he or she handles needles and other biohazards. 4) The plans for using patient data is dictated by law and agreement. We will follow both. 5) Our SmartCloud portal is secure, and hosted by Amazon's AWS. AWS is the most popular system for secure medical data.
- Q: What is going to be the rental vs the cost of a unit?
  - A: Thanks for your question. Our model is to place the unit at no charge, and charge the customer by the test. A typical charge for performing a test is $1. The industry calls this a reagent rental model, and it's been used by the big boys like Abbott, Siemens, and Roche for decades very successfully.
- Q: Show the product, where are you at with development, production, etc.
  - A: The CyberReader Model 2030 works well for test strips, is connected to our SimpleCloud to store test results and allow review. It is ready to support Drugs of Abuse and COVID-19. We have already manufactured units, and we are ready to ramp up with orders. Much of the the SimpleTest 2 engineering is complete, and we are counting on the fundraise here on WeFunder to complete the design, testing, and product launch.
- Q: I am a physician. What specific tests are available? Are these HIPPA WAIVED?
  - A: Thanks for this question. To clarify, I think you mean CLIA Waived. For the benefit of anyone else reading, CLIA waived tests are tests that anybody is authorized to run. For example a drugstore pregnancy test is CLIA waived. Urine drugs of abuse tests for our intended markets do not require FDA Clearance, so anybody can run those tests. Currently COVID-19 tests are not CLIA waived. The SimpleTest system is 100% HIPAA compliant. The SimpleTest unit never has patients’ personal information on it, neither does our SimpleCloud data portal.
- Q: Is the company alive? Any update? Thank you.
- Q: any updates on this
- Q: Hi, any updates? It's been a while.
- Q: do you still exist your website is not letting me in and gives this message Sucuri Website Firewall - Not Configured The site you are visiting is using Sucuri Website Firewall. And for some reason it is not configured properly. If you are the site owner, please open a ticket here asap for us to look at it for you: https://support.sucuri.net. If you are visiting the site please try again in a few minutes.
- Q: Why Is my Fund to invest is not going through? I have done it over and over again It kept showing red.
  - A: Sorry I cannot email you directly because I don't have your email address. I suggest that you contact support@wefunder.com . I have sent a message to them too. Support got back to me and said that there shouldn't be a problem. Thank you for your patience and interest!.
- Q: Hi Lonnie, I really like what I'm reading. Have you ever participated in a "pitch competition"? That would provide more significant exposure for your product and potentially open up possibilities for more substantial financial backing. Have you considered that? Thanks. Blessings
  - A: We would consider it. Thanks for bringing the opportunity to our attention. Please send more information to us at info@iAssay.net