Biophysical Corp. raises $4.1M to fund clinic expansion in Texas

Nov 17, 2014
Austin Business Journal

Biophysical Corp. of Austin has raised $4.1 million of a $5 million round of funding that it will use to pay for an office expansion in Houston and Austin in 2015

The company provides health care services for patients with early Type 2 diabetes or pre-clinical diabetes and Randy Marfin, Biophysical's CEO and president, said he expects the four or five Houston locations and the new Austin location to be open by the end of 2015

The company currently has 53 employees and six clinics total, with three in Texas including one in Austin. Marfin said the expansion will add roughly two dozen employees to the company's payroll

Biophysical was formed in 2005 as a spinoff of work done during the creation of Luminex Corp., which is also based in Austin. Marfin said the company has yet to turn a profit but will reach break-even revenue levels by the end of 2015

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