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private financing

The combined debt and equity financing for the Washington state allergy lab comes as demand for food-related allergy testing is growing.

The firm anticipates deploying funds to complete the integration of Biosensia, a developer of multi-analyte assays on a CLIA-waived testing platform.

Excluding IPOs, the funding environment for private venture-backed financing Dx deals in the US and Europe was remarkably similar in 2018 to 2017, according to Silicon Valley Bank.

The company plans to use the funds to develop and commercialize its lead product, a mass spectrometry-based glycoproteomic blood test for ovarian cancer.

The company, established as a merger between A*STAR MedTech spin-off MiRXES and venture capital firm Venturecraft, has developed a blood test for early-stage stomach cancer.

NGeneBio Raises $11M

The company has also achieved a CE-IVD mark for its HemeAccuTest, which targets hematological malignancies.

Developers of POC STI platforms and assays said that the tests provide convenience, privacy, and quick results in an area of testing in need of these benefits.

The firm will use the funding to advance commercialization of its RNA disruption assay and continue its breast cancer response therapy trial.

1Drop anticipates the platform will be capable of handling up to 64 clinical biomarkers, including indicators of cardiovascular diseases and many others.

The platform is currently used by pathologists doing research and could be available in a year for primary diagnosis of cancers in clinical settings.

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