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private financing

The financing will be used by the company to bring its breath-based diagnostic technology to market, fund clinical trials, and grow its precision medicine services.

Randox is using the funding, which includes £23 million from Invest NI, to create three centers in Northern Ireland to develop new diagnostic technologies.

The firm said it is close to completing development of a platform that aims to meet a need for cost-effective monitoring in countries with a high disease burden.

Genetic Technologies and Blockchain Global may partner to develop medical and biotechnology applications that combine their respective technologies.

The financing will support the company as it works to expand its diagnostic products for non-invasive early detection and monitoring of cancers.

Private equity firm Quadria Capital led the investment round and was joined by HealthQuad Fund and Heritas Venture Fund.

The financing follows a $5.15 million Series A round completed in 2015 and will go toward development and commercialization of Ultivue's InSituPlex technology. 

The company will use the money to continue development of its flagship Immunoscore colon cancer assay, among other things.

The company offers the FDA-cleared Trak Male Fertility Testing System, an at-home test that allows men to learn more about their sperm count level.

Milwaukee, Wis.-based TAI Diagnostics is developing a PCR-based assay for cell-free DNA as a way to monitor the health of transplanted organs.

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