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DermTech Raises $10M in Preferred Equity Offering

NEW YORK (GenomeWeb) – DermTech announced today that it has raised $10 million of its Series C preferred equity offering.

"We are very pleased to have the investor support allowing us to reach $10 million in preferred stock sold out of our $15 million offering," DermTech CFO Steve Kemper said in a statement.

The company said it would use the proceeds of the offering to continue the expansion of its sales force and bring new skin cancer products to market in 2018.

DermTech currently offers a pigmented lesion assay, which is designed to distinguish potential melanoma-associated gene expression from benign pigmented skin lesions using skin samples obtained with an adhesive patch biopsy kit. It is also developing a gene expression assay for non-melanoma skin cancers.