Precipio Diagnostics LLC, a New Haven, Conn.-based provider of delivers high-quality pathology diagnostic services, raised $1.8m in Series B funding.
Backers included Connecticut Innovations (CI), which made a $750,000 investment through its Eli Whitney Fund, Ironwood Capital, Enhanced Capital, Kuzari Capital and individual investors. In conjunction with Kevin Crowley, CI managing director of investments, joined Precipio’s board of directors.
In 2012, CI had already provided the company with a $500k loan through the Bioscience Facilities Fund.
Led by CEO Ilan Danieli, Precipio provides pathology services to community oncologists and hospitals. The company, which has 14 employees, has also exclusively licensed and is bringing to market several diagnostic technologies developed at Yale.
It commenced sales about a year and a half ago and has already produced more than 800 diagnostic reports for patients worldwide.