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Rna Diagnostics Raises $5M in Series A Financing Round

NEW YORK (GenomeWeb) – Rna Diagnostics said today that it has raised $5 million in a series A financing round.

According to Rna Diagnostics President and CEO Jeremy Bridge-Cook, the firm will use the funding to commercialize its RNA disruption assay (RDA). In addition, the team will use the financing round to support further progress on its Breast Cancer Response EValuation for Individualized Therapy (BREVITY) trial and other programs.

Rna Diagnostic's RDA tool measures tumor response after the first cycle of neoadjuvant therapy. The assay quantifies and scores the degradation of ribosomal RNA within tumors induced by response to a spectrum of chemotherapeutic drugs, the firm said in a statement.

The funding round was led by iGAN Partners and includes new and existing partners.