Provista Diagnostics, Inc., a Phoenix, Arizona-based cancer detection and diagnostics company focused on women’s cancer, has raised $5.0m in a Series A Preferred financing.
Backers include institutional investors.
The company intends to use the capital for completion of a confirmatory clinical trial and FDA 510(k) submission for the BT Test®, a cost-effective blood test that accurately detects the presence of breast cancer and is used in conjunction with mammography, as well as for the repayment of all outstanding short-term debt obligations.
Led by President and CEO Dr. David Reese, Provista Diagnostics develops and commercializes easy to administer blood-based diagnostic tests for early oncology-related disease state recognition and detection purposes. The company focuses on women’s cancers such as breast and ovarian cancer, as well as early detection testing for lung cancer.
In conjunction with the financing, Jeffrey Gilman, an executive at the Louis-Dreyfus Family Office, Anne Busquet, a principal of AMB Advisors, a business consulting firm, and a managing director at Golden Seeds, an angel investment group, and John Macaskill, a managing director at Groton Partners, a merchant bank based in New York, have joined Provista’s Board of Directors.