NEW YORK – PredictImmune today announced that it has closed a €10 million ($11.1 million) Series B financing round to support geographic and product pipeline expansion.
The Cambridge, UK-based firm said that the new funds will enable it to build on the launch and continued commercial expansion of its first product, PredictSure IBD — a CE-marked, qPCR blood test for guiding treatment options associated with inflammatory bowel diseases, including Crohn’s disease and ulcerative colitis. PredictImmune said it is focused on continued expansion of the test across Europe, the US, and the rest of the world in the coming months.
The University of Cambridge spinout said the financing will also enable it to expand product development, including expanding existing activities in inflammatory bowel disease and exploring a range of additional autoimmune areas, including systemic lupus erythematosus. It said its objective is to build a portfolio of new products to complement and enrich its prognostic test pipeline.
Existing investors Parkwalk and Cambridge Enterprise and new investors BGF and Cambridge Innovation Capital participated in the fund raise.