At first glance, the newest device from PNOàlooks like something a comic-book villain might wear. The mask, which covers the nose and mouth and straps around the back of the head, bears more than a passing resemblance to the one worn by Bane, BatmanâÂÂs hulking nemesis. But its purpose is far more benign; it measures how much oxygen you consume and how much carbon dioxide you exhale, then turns that data into advice about how to eat, train, and, the company hopes, live longer.
PNOÃÂ, which is based in Malden, Massachusetts, and has operations in Athens, Greece, is preparing to launch the PNOà2.0 on October 1. The big change from its current device is that users can administer the test themselves. According to co-founder and CEO Apostolos Atsalakis, someone can walk into a gym, âÂÂjust wear the mask, push the button, sit down,â and breathe for eight minutes. âÂÂThatâÂÂs it. ItâÂÂs that easy,â he said recently, talking with this editor over a Zoom call from the companyâÂÂs Athens location.
That matters because PNOÃÂâÂÂs current device requires a trained operator, which limits where it can be used. A self-serve version could open the door to fitness centers without dedicated staff and potentially even pharmacies, Atsalakis said.
The science behind PNOàisnâÂÂt new. Metabolic testing, which analyzes the gases in a personâÂÂs breath to gauge how their body produces energy, has been around for more than a century. For decades, it has been the gold standard for measuring VOâ max, the maximum amount of oxygen the body can use during exercise and a widely used measure of cardiorespiratory fitness. But the tests have traditionally required bulky, expensive equipment found mainly in sports labs and hospitals, which is why theyâÂÂve largely been the province of elite athletes and executive wellness programs.
What 10-year-old PNOàpromises is the same accuracy in a portable package, paired with software that translates the results into recommendations. âÂÂWe made it accessible to everyone,â Atsalakis said.
The company says its test captures 23 biomarkers, including (beyond measuring VOâ max) oneâÂÂs resting metabolic rate (how many calories the body burns at rest), and metabolic flexibility (how well the body switches between burning fat and carbohydrates). Atsalakis argues that these metrics answer questions that blood tests canâÂÂt, such as how many calories a person needs or how they should train.
The timing is good for PNOÃÂ. VOâ max has become a buzzword among longevity enthusiasts, thanks in part to research linking higher cardiorespiratory fitness to lower mortality. Atsalakis calls VOâ max the strongest predictor of human longevity, and he sees his companyâÂÂs data as a kind of scorecard for the booming wellness industry.
The new device is smaller and more compact than its predecessor, with fewer parts, which Atsalakis said makes it more reliable. It was designed with Milan-based Design Group Italia over what Atsalakis described as âÂÂa lot, a lot, a lot of iterations,â since a self-administered metabolic testing device hadnâÂÂt been done before.
It also addresses a question that post-pandemic users are likely to ask: who wore it last? The answer: it doesnâÂÂt matter, as the electronics detach from the silicone mask and straps, so multiple people can share the costly hardware while each user keeps their own mask.
For all its clinical ambitions, PNOàis careful about what it claims. The device isnâÂÂt cleared by the U.S. Food and Drug Administration, and Atsalakis said that âÂÂwe do not provide medical recommendations.â Instead, PNOàconsiders itself a wellness device. âÂÂItâÂÂs like a body composition device, like a scale,â he said. âÂÂA doctor cannot prescribe medication based on our results.âÂÂ
That could change down the road. Researchers have long explored whether compounds in human breath can signal diseases such as cancer, and Atsalakis believes the companyâÂÂs growing trove of data could eventually help it flag health issues. But he acknowledged that full diagnoses are âÂÂdefinitely a couple of years away,â with regulatory hurdles likely stretching that timeline further. âÂÂWeâÂÂre not there yet,â he said.
PNOàtraces its roots to AtsalakisâÂÂs PhD work in sensing technologies at the University of Cambridge, when wearables were taking off and he became fascinated by what the breath could reveal about the body. He co-founded the company with Panos Papadiamantis, a childhood friend who is now the companyâÂÂs chief product officer.
The startup went through Y CombinatorâÂÂs Winter 2019 batch, back when âÂÂlongevityâ was not yet the industry it is today. It has since raised about $22 million, including a recently closed $11 million round, from investors including 50 Years and Google Maps co-founder Lars Rasmussen, who is himself now based in Athens.
PNOàsells only to businesses, which then offer the test to their customers. Its clients include Equinox, where itâÂÂs available at almost all clubs, said Atsalakis, as well as Four Seasons hotels, Red Bull, the NBA, the Mount Sinai Health System, and the med spa chain Restore Hyper Wellness.
About 85% of its business comes from the U.S., which Atsalakis described as âÂÂby far the most advanced market globallyâ for longevity. The company is now expanding in Europe and, through partners, in Latin America and Asia.
Businesses pay a subscription ranging from $400 a month to more than $1,000, which covers the hardware, software, training, and marketing materials, a package Atsalakis calls a âÂÂbusiness in a box.â PNOàalso links its results to the services a business sells, so a gym or spa can recommend specific offerings based on a customerâÂÂs test. Many clients use the test during onboarding, Atsalakis said, positioning it somewhere between a full clinical workup and the estimates people get from their smartwatches.
That middle ground is increasingly crowded. Apple, Garmin, and Whoop all estimate VOâ max from heart-rate data, while consumer devices like Lumen analyze breath to gauge fat and carb burning. At the high end, traditional metabolic carts remain the standard in labs and hospitals.
PNOÃÂ, which employs 110 people, says it recently turned profitable, while growing more than 100% a year. Atsalakis said the company plans to raise a Series B within the next six to 12 months as it tries to put its mask â Bane comparisons and all â in front of more faces.
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