Exosome Diagnostics, Inc., a Cambridge, MA-based developer of biofluid-based molecular diagnostics, completed an additional $17.6m in Series B financing.
Participating investors in this second tranche, which brought the total Series B raise to $44.7m, included Forbion Capital Partners, NGN Capital, Arcus Ventures, Tiger Management and CD Ventures.
Led by Thomas McLain, chief executive officer, Exosome Diagnostics focuses on developing and commercializing biofluid-based diagnostics to deliver personalized healthcare. The company’s novel exosome-based technology platform leverages dynamic molecular insights to improve how cancer and other serious diseases are detected, diagnosed, treated and monitored.
The company will use the funds for:
– 2015 commercial launch of two blood-based lung cancer liquid biopsies and a urine-based prostate cancer liquid biopsy.
– 2015 commercial launch of solid tumor panel.
– Development and planned 2016 launch of next-generation solid tumor panel.
– Development of diagnostic tests for neurodegenerative diseases.