Tethys Bioscience, Inc.
, an Emeryville, California-based cardiometabolic diagnostics company that creates and commercializes biomarker-based blood tests to identify patients at high risk of developing type 2 diabetes, has raised $33m, comprising of venture capital
and debt financing
Participants in the $23m venture financing included new investors Greenspring Associates, Inc. (formerly Montagu Newhall Associates, Inc.), Paul Capital Investments, as well as exisiting investors.
The $10m working capital loan
was provided by Oxford Finance Corporation
and Silicon Valley Bank
The new capital will support expanded commercialization of the Tethys PreDx™ Diabetes Risk Score (DRS), a multimarker blood test that enables accurate identification of patients who have a high risk of developing type 2 diabetes within five years and facilitates identification of the 10-20% of individuals at the highest, near-term risk, for whom intervention may be most beneficial.