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Early-Stage Firm PinkDx Closes $45M Upsized Series A Financing Round

NEW YORK – Early-stage women's health diagnostics firm PinkDx announced Thursday that it has completed a second close of its $45 million Series A financing round.

The company said it raised an additional $5 million following its launch in April with a $40 million Series A round. The Series A financing was led by Catalio Capital Management, the Production Board, and Mountain Group Partners, with participation from Byers Capital, Mayo Clinic, and new investors Blue Venture Fund, Sandbox Clinical Ventures, and BEVC.

The funding will be used to help PinkDx advance its first test, which is intended to help clarify diagnosis for women with potential gynecologic cancer, the company said in a statement. The firm plans to develop solutions to "replace invasive and painful diagnostic procedures and mitigate the significant delays women and their doctors often face in obtaining answers," it added.

"We are making great progress in the discovery and development of our first test, and this additional funding will help accelerate that process through the test’s clinical validation," PinkDx Cofounder, Chairwoman, and CEO Bonnie Anderson said in a statement.

As a result of BEVC's investment, PinkDx is now a member of the life science incubator Bakar Labs, operated by the University of California, Berkeley.

According to PinkDx's website, the firm extracts data from patient samples, including genomic, medical history, and clinical and pathological outcome features data. It then uses bioinformatic tools and machine-learning models to develop a test based on each patient's profile.