DiaTech Oncology, a Nashville, Tenn.-based life sciences and clinical pathology laboratory company offering patient-specific cancer testing, completed an $18m equity financing.
The name of the backers were not disclosed.
The company intends to use the capital to develop additional laboratories to support its growth, as well as to expand relationships with payors and research programs with institutional and academic partners.
Led by and Cary Presant, M.D., Chief Medical Officer, and Andy Miller, Chairman, DiaTech Oncology provides a predictive test, the MiCK® assay or Correct Chemo™, which reveals which chemotherapy agent, or combination of agents, will kill the cancer cells of a specific, individual patient prior to treatment.
Accoridng to written note, the company’s test has shown positive results and improved survival for more than 50 different types of cancer.