Strand Diagnostics to Receive up to $30M in Funding over Three Years

Strand Diagnostics, LLC, an Indianapolis, IN-based maker of a system that uses bar coding, forensic chain-of-custody principles, and DNA testing to complete the diagnostic testing cycle before initiating treatment, will receive up to $30m in funding from NantWorks, LLC over the next 3 years.

The company intends to use the capital to scale its operations infrastructure, and expand sales and marketing efforts.

Launched in 2009 and led by President Ken Cerney and co-founder Dr. Peter Knapp, Strand Diagnostics has developed the know errorĀ® system (http://www.knowerror.com), which uses bar coding, forensic principles, and DNA matching to ensure that surgical biopsy samples being evaluated belong exclusively to the patient being diagnosed.
The system is currently used for for breast biopsy and prostate biopsy.

FinSMEs

28/03/2012

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