Biodesix, a Boulder, CO-based molecular diagnostic company dedicated to personalizing medicine, closed an $8.3m Series E equity financing.
New funds accounted for $4.3m and the remaining $4m came from the conversion of a convertible note.
Existing shareholders provided all of the capital.
Led by David Brunel, Chief Executive Officer, Biodesix provides VeriStrat, a serum protein test that helps physicians guide therapy for patients with advanced non-small cell lung cancer (NSCLC).
The already commercially available test provides oncologists with information to help them select between erlotinib and single-agent chemotherapy for advanced lung cancer patients. Tests are processed in Biodesix’ CLIA-certified laboratory and results are reported in less than 72 hours.
The company intends to use the funds for ongoing development of its technology platform and expansion of sales and marketing efforts for VeriStrat®.