This is another one of those "Stanford grad finishes school, starts company, raises millions" stories. The entrepreneur in question is 22 years old Elizabeth Holmes, whose company Theranos is developing a device for adverse drug monitoring. This is the second round she's raised, and will go to ramp up manufacturing.

company’s device, called Theranos 1.0, works by measuring a tiny amount
of blood from a person’s finger or arm. The blood runs through a
biochip that searches for different markers like drug or protein
concentrations. The concentration measurements are used to determine if
an adverse drug reaction—such as a rash, skin reaction, or damage to
certain organs—is occurring.

device then electronically transmits the data to Theranos’ web site,
where biostatistics algorithms profile the information. Patients can
then go to the web site and physicians can turn to their PDA for
results. Theranos’
drug-monitoring device not only aims to help patients feel safer about
the drugs they ingest. It also works to improve upon a drug’s risk
profile, and increase understanding on how to dose different
individuals most effectively.

There seems to be a remote monitoring trend here: point of care or remote sensor, wireless connectivity to a server where data is analyzed and trended, feedback for both physicians and patients. This is the first company I've heard of with an adverse drug monitoring application. Pretty cool.

I looked for a photo of their product and couldn't find one - so I went with a shot of the CEO, at right.