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private financing

The company is developing an automated benchtop system to provide accurate lab results in 20 minutes for a variety of tests from a small sample of blood. 

The Series A financing will go toward expanding access to its liquid biopsy-based test to more patients in Asia and North America, it said.

The firm will use funds from the round, led by the Midlands Engine Investment Fund, to develop its optical point-of-care diagnostic testing platform.

The company said it intends to use net proceeds from the offering to support development and commercialization for its DetermaVu and Razor assays.

The digital pathology company, which pulled in $60 million earlier this year, said it has raised over $90 million since it was founded in 2016.

The company raised $7.4 million in an extended Series B financing round and entered a partnership with BARDA valued at $7.6 million.

The  firm will use the net proceeds for research and development, marketing, and general corporate purposes to help commercialize its LX Analyzer technology.

Cambridge, UK-based Sense Biodetection will use the funding to develop a portfolio of instrument-free, point-of-care molecular diagnostic tests.

The company offers products and services for analyzing, interpreting, and reporting clinical next-generation sequencing data with a focus on cancer.

The company has used a portion of the new facility to pay back existing debt to the bank, as well as a final payment designated in the parties' earlier loan agreement.

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