Researchers at NJIT have initially tested their biochip for the detection of early-stage ovarian cancer, but they said it could have use for other cancers and diseases.
About £3.7 million ($4.9 million) of proceeds from the placement would go toward the acquisition, while remaining funds will support assay development validation, and working capital.
The companies will validate and commercialize the assay as a companion diagnostic to identify best responders to Morphotek's investigational ovarian cancer treatment.
The group that advises primary care clinicians found evidence that false-positive screening results could lead to surgical interventions in asymptomatic patients.
