Predictive Biosciences, a Lexington, MA-based developer of innovative molecular diagnostic cancer assays and a provider of anatomic pathology laboratory products and services, completed a $25m Series C round of financing.
The round was led by new investor ProQuest Investments, with participation from exisiting investors Flybridge Capital Partners, Highland Capital Partners, Kaiser Permanente Ventures and New Enterprise Associates.
In conjunction with the investment, Jay Moorin, general partner at ProQuest, will join the company’s board of directors.
The company is building a portfolio of assays for cancer management, first targeted at bladder and prostate cancer. The new capital will be used to complete multi-center clinical trials for the company’s CertNDx bladder cancer assay and support its commercial launch through its Clinical Laboratory Improvement Act (CLIA)-certified laboratories.
The CertNDx test allows physicians to non-invasively determine the presence or absence of cancer with very high certainty.
The funds will be also used to expand the Predictive’s recently acquired OncoDiagnostic Laboratory.