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Jun 16, 2010

Predictive Biosciences Secures $25M to Push On with Bladder Cancer Test

Predictive Biosciences Secures $25M to Push On with Bladder Cancer Test

Funding will also support expansion through recently acquired CLIA-certified lab. [© Caleb Foster - Fotolia.com]

  • Predictive Biosciences completed a $25 million Series C round of financing. The company will use the proceeds to finish multicenter clinical trials with the CertNDx bladder cancer assay and support its commercial launch through the company’s CLIA-certified laboratories.

    The CertNDx test utilizes Predictive’s Multi-Analyte Diagnostic Readout (MADR™) approach of combining DNA and protein biomarkers into a single assay. This allows physicians to noninvasively determine the presence or absence of cancer with very high certainty.

    The company says that it will also use some of the proceeds to continue commercial and operational growth of recently acquired OncoDiagnostic Laboratory (ODL). This will include the expansion of facilities to support a growing national customer base. Additionally, ODL is enhancing its laboratory information systems.

    ODL, a CLIA-certified anatomic pathology and molecular diagnostics lab, serves as Predictive Biosciences’ commercial division. It has a national sales force serving urologists and other subspecialty physicians.

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