The company's goal is to serve what it sees as a massive but underaddressed target group: Asian women.
The blood-based test is designed to detect changes in levels of microRNAs that are enriched in specific brain regions affected by Alzheimer's disease.
The platform is designed to isolate exosomes from blood, then release their extracellular RNA cargo for analysis as biomarkers for diseases including cancer.
The company missed the analysts' average estimates on the top and bottom lines, but it raised its full-year 2019 revenue guidance.
Mirnax will use Arcis' nucleic acid sample preparation and preservation technology to improve the stability of miRNA biomarkers for early disease detection.
The funding will be used to support clinical validation and expand market access for the firm's endometriosis diagnostic test.
The company is seeking NY State approval for its lab, which would allow it to offer both tests as LDTs, hopefully by the end of this year or early next.
The company's assay relies on a set of 15 methylation and microRNA markers to determine whether a woman has breast cancer.
The company beat the consensus Wall Street estimate on the top line and guided to 2018 revenues of between $21 million and $22 million.
The blood-based test, called Melaseq, measures 38 circulating microRNAs that regulate processes that melanoma cells undergo as they become malignant.