Aviir, Inc., an Irvine, California-based biotechnology company specializing in cardiac disease assessment, has entered into an agreement with new and current investors to raise up to $30m.
The round was led by Merck Global Health Innovation Fund, with participation from existing investors Bay City Capital, Aberdare Ventures, and New Leaf Venture Partners. The financing includes an initial investment of $10m and future investments of up to $20m upon achieving established milestones.
Founded in 2005 and le led by CEO Douglas Harrington, M.D., Aviir specializes in developing proprietary diagnostic tests that will assist in identifying patients that are truly at high risk for the development of a cardiac event.
Its CLIA laboratory (Irvine) complements these novel tests with a wide range of additional tests for risk assessment and therapeutic monitoring of cardiovascular disease and related metabolic disorders – including pharmacogenomic and other genetic tests.
The company intends to use the capital to fund commercialization of TruRisk™, its proprietary cardiac risk assessment technology, and additional molecular testing services provided through its laboratories.