The company's assay, performed on FFPE tissue, measures the density of two T lymphocyte populations to help physicians assess disease prognosis.
The company will work with medical faculties of the universities of Greifswald and Rostock to develop Dx tools for personalized, immune-based treatments.
The company is now commencing a trial of the test platform in 250 patients to generate more data while it considers how to best commercialize it.
The American Cancer Society today lowered the recommended age for screening patients at average risk for the disease to 45 from 50 years old.
The company said test volume rose 87 percent to 186,000 during the quarter.
The company said 571,000 people were screened for colon cancer with its noninvasive Cologuard test in 2017.
Alfa Scientific's iFOB test identifies human blood in feces, which may be a symptom of precancerous polyps and colorectal cancer.
Investors in Exact Sciences went on a selling spree after CellMax publicized data suggesting its test could outperform Cologuard for the early detection of colorectal cancer.
The company, which beat analyst estimates on both the top and bottom lines, said Cologuard test volume in Q3 2017 rose 136 percent year over year.
The funding will go toward bringing the BA100 test to clinicians. The test can identify patients most likely to respond to the standard of care chemotherapy treatment.