The story has been corrected to say that the firm is seeking regulatory clearance for its PanCystPro test, not FDA clearance as previously stated.
NEW YORK – Startup company Amplified Sciences on Monday said it has raised $2.6 million in a Series Seed Preferred round.
The round was led by Elevate Ventures and OCA Ventures with participation from Purdue Strategic Ventures, IU Ventures, Vision Tech, and Flywheel Fund.
The West Lafayette, Indiana-based firm said that it will use the money to develop its BioMatra testing platform, expand its R&D operations, and secure regulatory clearance for its PanCystPro cancer risk stratification test for patients with pancreatic cystic lesions. The test is used for the detection of cancer biomarkers in pancreatic cyst fluid.
Amplified Sciences' BioMatra system is an ultrasensitive chemistry platform that incorporates technologies licensed from Purdue University that "combines advanced chemistry reagents, cutting-edge instrumentation, and AI to deliver extremely accurate results," Amplified CEO Diana Caldwell said in a statement.
The firm further said on its website that the instrument incorporates spectroscopy, chemometric tools, chemistry reagents, and machine learning-developed algorithms. The company noted that pancreatic cancer is the third most deadly cancer in the US, and it is developing PanCystPro as the first test that it will bring to market.